FCMB Group plc has posted a revenue of N48.3 billion for the third quarter of 2020 (Q3, 2020), as Year-To-Date earnings appreciates by +7.8% to hit N146.43 billion as at September 2020.

This is according to the latest financials of the group sent to the Nigerian Stock Exchange Market today.

Key highlights of Q3 2020 results are:

• Gross earnings increased to N48.3billion, +4.8% Y-o-Y.
• Pre-tax profit increased to N4.8billion, +10.2% Y-o-Y.
• Profit After Tax (PAT) grew to N4.2billion, +16.4% Y-o-Y.
• Net interest income grew to N22.7billion, +30.03% Y-o-Y.
• Net fee and commission income increased to N5.2billion, +0.29% Y-o-Y.
• Net trading income grew to N1.82billion, +39.4% Y-o-Y.
• Personnel expenses declined to N6.9billion, -7.9% Y-o-Y.
• General and administrative expenses declined to N7.6billion, -7.52% Y-o-Y.
• Earning Per Share increased to N0.21, +16.7% Y-o-Y.
• Between December 2019 and September 2020, loans and advances to customers grew to N793.14 billion, +10.8%
• Total assets between the period under view also grew to N2.04 trillion, +22.12%
• Deposits from customers between December 2019 and September 2020 crossed the trillion mark, as it hits N1.2 trillion, indicating a gain of +26.7% within the period under view.

Bottom Line

The bank posted impressive growth across key financial metrics, with major income yielding components increasing over time, coupled with a drastic reduction in expenditure items. This reflected in the growth recorded both in the pre and post tax profit levels.

Zenith Bank Plc has recorded an impressive Profit Before Tax of N177.3 billion for the period ended September 30, 2020.

This is according to its latest financials sent to the Nigerian Stock Exchange Market.

Key highlights of the 9M 2020 results are:

• Gross earnings increased to N508.97 billion, +3.6% Y-o-Y.
• Profit Before Tax grew to N177.3 billion, +0.6% Y-o-Y.
• Net interest income increased to N225.18 billion, +4.91% Y-o-Y.
• Impairment charges grew to N25.11 billion, +37.5% Y-o-Y.
• Personnel expenses increased to N59.93 billion, +5% Y-o-Y.
• Loans and advances to customers grew to N2.7 trillion, Up by +32.7% Y-o-Y.
• Total assets increased to N7.97 trillion, +33.4% Y-o-Y.
• Customers deposit grew to N5.2 trillion, +32.2% Y-o-Y.
• Earnings Per Share boosted to N5.07k, +5.6% Y-o-Y.

Bottom Line:

The firm performed well in most of its key financial metrics, recording an impressive figure across board. The impressive performance was reflected in its Cost-to-Income ratio which stood at 37.3%, far below the 50% threshold, indicating that the firm has been very efficient in its operations.

FBN Holdings Plc has posted a Profit Before Tax of N21.9 billion for the third quarter of the year (Q3, 2020) – indicating a 20.2% increase from the figures posted in the corresponding period of 2019

This is according to its latest financials sent to the Nigerian Stock Exchange.

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Key highlights of Q3 2020 are:

• Profit Before Tax increased to N21.9 billion, up by +20.2% Y-o-Y.
• Profit for the period from continuing operations increased to N18.72, up by+1.41% Y-o-Y.
• Interest income declined to N90.3 billion,  -12.2% Y-o-Y.
• Interest expense declined to N28.8 billion, -29.6% Y-o-Y.
• Net interest income marginally declined to N61.5 billion, -0.6% Y-o-Y.
• Fees and commission income increased to N31.8 billion, +17.9% Y-o-Y.
• Foreign exchange income increased to N2.96 billion, +223.5% Y-o-Y.
• Personnel expenses increased to N24.64 billion, indicating a gain of +9.82% Y-o-Y.
• From December 2019 to September 2020, loans and advances to customers increased to N2.05 trillion, up by+10.9%.
• Total assets grew to N7.2 trillion in September 2020 from N6.2 trillion it recorded as at December 2019, +16.8%.
• Between December 2019 and September 2020, deposits from customers increased to N4.6 trillion, up by +15.2%.

READ: Dangote Cement Plc records 34.20% increase in 2020 Q3 revenues

Bottom Line

High trading income coupled with a lower operating expense played a vital role in boosting the firm’s profit. In addition, higher current and non-current components boosted the over total assets value.