Finance News : FBN HOLDINGS ANNOUNCE Q1 2020 RESULTS

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

FBN HOLDINGS ANNOUNCE Q1 2020 RESULTS


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.

Pretax Profit: The unaudited financial results showed FBN holding made a pre-tax profit of f 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.

See also related News:

GTBank's Profit before Tax rises by 2.1% to N58.2 Billion in Q1, 2020
(Business News, April 23, 2020).

Access Bank Plc reports profit of N40.9 Billion for Q1, 2020.
(Business News, April 23, 2020).

UBA Reports profit of N30.1 Billion for Q1, 2020.
(Business News, April 24, 2020).






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