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Home Industries Company News

FBN Holdings declares a Profit after Tax of N25.7 billion in Q1 2020

Olumide Adesina by Olumide Adesina
April 21, 2020
in Company News, General News
FBN holdings plc, First Bank
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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.

FirstBank celebrates 2019 Customer Service Week, underscores the impact of Customer Service through Its 125 years, First Bank Holdings declares a Profit after Tax of N26 billion in Q1 2020

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. 

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Tags: 2020 Q1 ResultsCompany Financial ResultsFirst Bank HoldingsNigerian Business NewsProfit after tax

Comments 2

  1. Anonymous says:
    April 21, 2020 at 11:42 am

    Impressive particularly at this lockdown period.

    Reply
  2. Lucky Ekeleme says:
    April 22, 2020 at 5:24 pm

    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..

    Reply

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