FBNH released its 2013 H1 results showing Net Interest Income rose 5.8% to N108billion compared to N102.8billion reported in the same period 2013. Loan losses dropped from N9billion last year to N6billion the first half of 2014. Operating expenses almost wiped out Net interest income as it rose 14% to N102.8billion. FBNH thus had to rely on income from commission and fees of about N42billion to post profits.
Pretax profits thus dropped 12% to N47.4billion compared to N54.2billion posted a year earlier. FBNH profits have been heading south back to back in the last one year and it now seems like ages since the company posted pre-tax profits of N54.8billion in 2012 H1.
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