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.
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.