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Home Business News Politics

Did FBNH Just Insinuate The CBN cost them N15b in lost revenue?

Nairametrics by Nairametrics
January 6, 2014
in Politics
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I wrote in my last review of FBNH results that a flat earnings growth for 2013 will be a plus.  So it’s no surprise in the article below the Hold Co has confirmed the obvious.

What is remarkable too is that they claim they sold Treasury Bills worth N150b and placed it with the CBN at zero %. This from all indication is as a result of the CRR and may have cost the bank a potential N15b in lost revenue.

Rather than earn free N150b they place it with the CBN via the power of regulation.  For investors, these are examples of threat to a business and should be factored in when determining value.

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We still like FBNH.

https://www.punchng.com/business/money/first-bank-expects-no-change-in-profit/

Tags: News Review
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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