FBN Holdings Plc has posted a Profit Before Tax (PBT) of N14.8 billion for the fourth quarter of 2020 (Q4, 2020), compared to N20.82 billion made in the corresponding period of 2019, indicating a decline in PBT by 29% Year-on-Year.
This is according to the firm’s recent financial statement made available on the Nigerian Stock Exchange and seen by Nairametrics.
FBN Holdings Plc had earlier posted an increase in its Profit Before Tax in the third quarters of 2020 (Q3, 2020) by 20.2% Y-o-Y, to N21.9 billion. This is in contrast to the recent Q4 2020 figures which dipped by 29% Y-o-Y.
Other key highlights of the Q4 2020 financials are;
- Interest Income declined to N88.86 billion, -20.9% Y-o-Y.
- Fee and commission income increased to N35.4 billion, +29.4% Y-o-Y.
- Profit for the year declined to N11.6 billion, -47.3% Y-o-Y.
- Dividend income declined to N343 million, -83.2% Y-o-Y.
- Other operating income increased to N922 million, +468.8% Y-o-Y.
- Interest expense declined to N24.91 billion, -31.4% Y-o-Y.
- Fee and commission expense declined to N5.11 billion, -25.6% Y-o-Y.
- Personnel expenses increased to N27.1 billion, +1.5% Y-o-Y.
- Operating expenses increased to N51.7 billion, +0.8% Y-o-Y.
- Earnings per Share increased to N2.18, +11.8% Y-o-Y.
- Loans and advances to customers increased to N2.2 trillion in FY 2020, +19.9% Y-o-Y.
- Deposits from customers increased to N4.96 trillion in FY 2020, +23.4% Y-o-Y.
- Total assets increased to N7.6 trillion in FY 2020, +22.9% Y-o-Y.
- Total liabilities increased to N6.9 trillion in FY 2020, +23.9% Y-o-Y.