• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

RESULT: FBN Holdings Plc reports 53.64% growth in PBT for Q1 2023

Nathanael Disu by Nathanael Disu
June 3, 2023
in Business News, Company News
FBNH
Share on FacebookShare on TwitterShare on Linkedin

Article summary

  • FBN Holdings Plc’s Q1 2023 financial statement reveals a significant increase in profitability, with Profit Before Tax rising by 53.64% to N56.105 billion and Profit After Tax increasing by 54.48% to N50.054 billion.
  • Net fee and commission income also saw substantial growth, with a year-on-year increase of 29.18% to N35.297 billion.
  • The bank’s strong performance was primarily driven by a surge in interest income, which reached N179.610 billion, representing a growth of 64.10% compared to the same period in 2022.

  FBN Holdings Plc has released its unaudited Q1 financial statement for the first quarter ended 31 March 2023. 

  The Group posted a profit before tax of N56.105 billion for Q1 2023 a 53.64% growth from N36.518 billion reported in Q1 2022.  Profit after tax stood at N50.054 billion as against N32.401 billion in 2021, equally representing 54.48% growth. 

The profit was boosted largely by interest income of N179.610 billion reported during the period under review as against N109.448 billion posted in 2022, which is an increase of 64.10%. 

RelatedStories

VFD Group’s Bold Move, FBN’s Rebrand, and Oando’s Stock Surge—Can the Rally Hold? | Market Weekly

VFD Group’s Bold Move, FBN’s Rebrand, and Oando’s Stock Surge—Can the Rally Hold? | Market Weekly

February 19, 2025
Oba Otudeko loses N371 million from his Honeywell flour stake in a single day

Otudeko fails to appear in court, his lawyers refuse to undertake to produce him at next date

February 13, 2025

 According to the bank in a statement, Net Interest Income rose by 53.64% to N111.847 billion from N72.796 billion in Q1 2022. 

This is on the back of increasing inflation which the economy continues to struggle.  Nigeria’s annual inflation rate rose for the fourth straight month to 22.22% in April 2023 from 22.04% in the previous month, according to the latest inflation report released on Monday 15th May 2023. 

The report published by the National Bureau of Statistics (NBS) said the food inflation rate quickened to 24.61% in April from 24.46% in the previous month. 

  • “Looking at the movement, the April 2023 inflation rate showed an increase of 0.18% points when compared to March 2023 headline inflation rate,” it said. 

 The NBS said similarly, on a year-on-year basis, the headline inflation rate was 5.40% points higher compared to the rate recorded in April 2022, which was 16.82%. 

 FBN Holdings’ Other Operating Expenses grew by 22.62% to N72.722 billion from N59.305 billion in Q1 2022. 

 

Other key highlights of the result 

Net fee and commission income 

  • 2023 Q1: N35.297 billion
  • 2022 Q1: N27.323 billion
  • Change: 29.18%  

  

Interest Income 

  • 2023 Q1: N179.610 billion
  • 2022 Q1: N109.448 billion
  • Change: 64.10% 

  

Operating Profit 

  • 2023 Q1: N56.105 billion
  • 2022 Q1: N36.590 billion
  • Change: 53.33% 

  

Other operating expenses 

  • 2023 Q1: N72.722 billion
  • 2022 Q1: N59.305 billion
  • Change: 22.62% 

 


Follow us for Breaking News and Market Intelligence.
Tags: FBNFBN Holdings Plc
Nathanael Disu

Nathanael Disu

Nathanael Disu is a Financial Analyst at Nairametrics. He also runs a Financial Intelligence Bootcamp which helps individuals get better understanding of their Money.

Related Posts

VFD Group’s Bold Move, FBN’s Rebrand, and Oando’s Stock Surge—Can the Rally Hold? | Market Weekly
Digital Media

VFD Group’s Bold Move, FBN’s Rebrand, and Oando’s Stock Surge—Can the Rally Hold? | Market Weekly

February 19, 2025
Oba Otudeko loses N371 million from his Honeywell flour stake in a single day
Legal & Regulations

Otudeko fails to appear in court, his lawyers refuse to undertake to produce him at next date

February 13, 2025
FBN Holdings’ 142% Profit Surge: What’s Next for Investors?
Digital Media

FBN Holdings’ 142% Profit Surge: What’s Next for Investors?

February 3, 2025
Oba Otudeko loses N371 million from his Honeywell flour stake in a single day
Legal & Regulations

Honeywell Chairman Oba Otudeko reportedly departs Nigeria amid legal dispute 

January 17, 2025
Court freezes $225 million in assets linked to General Hydrocarbons and Nduka Obaigbena 
Breaking News

Court freezes $225 million in assets linked to General Hydrocarbons and Nduka Obaigbena 

January 9, 2025
Femi Otedola
Billionaire Watch

Billionaire Femi Otedola named “Investor of the Year 2024” 

January 7, 2025
Next Post
New government should target 10% economic growth – Dr. Andrew Nevin

Insights: Pensioners, state workers will be immediate beneficiaries of fuel subsidy removal – Dr Andrew Nevin 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Cornerstone Insurance declares 27 kobo final dividend, reveals payment date and criteria 
  • Oil Subsidy Fraud: EFCC declares Fargo Petroleum MD wanted over alleged N976 million scam 
  • BUA Cement gains over 7% as Nigerian stock market conquers new territory 

Follow us on social media:

Recent News

Cornerstone Insurance declares 27 kobo final dividend, reveals payment date and criteria 

June 13, 2025
EFCC, NOUN, Sunflower Hotel

Oil Subsidy Fraud: EFCC declares Fargo Petroleum MD wanted over alleged N976 million scam 

June 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics