FBN Holdings Plc has announced its unaudited results for the three months that ended on 31st March 2020.
Interest income: it made N104.9 billion from interest income, lower than N109.5 billion in the same period of 2019.
Post Tax profit: It also announced a post-tax profit of N25.7 billion as against N15.7 billion recorded in the first three months of 2019.
Operating Expenses: The company had operating expenses of N41.9 billion, compared to N38.9 billion recorded in the same period of 2019.
(READ MORE: Official: FBN Holdings (First Bank) Will Pay N1 As Dividend For FY 2012)
Operating Income: Operating income for the 1st quarter of 2020 was N471 million in comparison with N671 million in Q1 2019.
Pretax Profit: The unaudited financial results showed FBN holding made a pre-tax profit of N28.7 billion compared with N17.8 billion achieved in the same period of 2019.
Interest Expenses: interest expense in the period was N44.7 billion as against N37.9 billion in the same period of 2019.
Net Interest Income: In addition, the company had a net interest income of about N60 billion in comparison to N72 billion in the same period of 2019.
FBN Holdings Plc is the non-operating financial holding company of one of the largest banking and financial services organizations in Africa. The bank and the non-bank subsidiaries of the holding company operating in Nigeria, as well as through overseas branches, subsidiaries and representative offices.
Impressive particularly at this lockdown period.
Evidence of an hard working organization. While some inefficient News Organization have already relented from their responsibilities. Nairametrics is working very hard to provide reliable and trustworthy news and information to news and information seekers even in the face of this pandemic..