society
2023 HALF YEAR RESULT: FBN HOLDINGS POST N206BN PRE-TAX PROFIT
2023 HALF YEAR RESULT: FBN HOLDINGS POST N206BN PRE-TAX PROFIT
FBN Holdings Plc, has reported a profit before tax of N206 billion for the half year ended June 30, 2023.
FBNHoldings disclosed the figures in its second-quarter statement released yesterday on the Nigerian Exchange.
The increase in second-quarter profits helped its half-year profit before tax to rise by 213% compared to N65.7 billion in the same period last year.
This is also the Bank Holding Company’s best half-year performance since it was listed on the Exchange.
A breakdown of the company’s impressive financial results shows that the bank’s two-quarters of outstanding performance means a profit after tax of N174.9 billion, which is a 228.3% increase from the N53.3 billion reported in the first half of the previous year.
The first half 2023 profit has also surpassed the N136.173 profit reported in the full year of 2022 (January to December).
The Group’s gross earning of N656.6bn represents a growth of 82.8% from the N359.2bn reported in the first half of the previous year. Al impressive records are Net interest income of N232.6bn, up 52.1% y-o-y (Jun 2022: N152.9bn); Non-interest income of N229bn, up 112.0% y-o-y (Jun 2022: N108.1bn); Operating expenses of N222bn, up 24.7% y-o-y (Jun 2022: N178bn).
Profit before tax of N188.8bn, up 214.6% y-o-y (Jun 2022: N60bn); Profit after tax of N174.9bn, up 228.3% y-o-y (Jun 2022: N53.3bn)
Total assets grew by 34.8% y-t-d to hit N13.6 trillion, Customers’ loans and advances (net) of N5.2trn, up 39.9% y-t-d (Dec 2022: N3.7 trn); and Customers’ deposits of N8.8trn, up 26.9% y-t-d (Dec 2022: N6.9trn)
The Group Managing Director, FBNHoldings, Nnamdi Okonkwo, while commenting on the results stated that: “FBNHoldings has continued to deliver a strong financial performance despite the complex operating environment, thanks to our reinforced foundations, deep market understanding, strong risk management and execution capabilities. On the back of this and in line with our focus of driving further improvement in revenue generation and profitability, the Group delivered strong growth in gross earnings and profit before tax resulting in N656.6 billion and N206.3 billion respectively, for the first half of 2023 financial year”.
He noted that the company will continue to focus on customer-centric innovations with strong transactional and digital capabilities supported by sound risk management practises to anticipate and creatively deliver products and services that delight the different customer segments that we serve.
While noting that the current operating environment remains challenging, he maintained that the company is confident of successfully navigating the terrain.
Commenting on the results, Chief Executive Officer of FirstBank (Commercial Banking Group), Dr. Adesola Adeduntan, added: “In the first half of 2023, FirstBank Group delivered the strongest financial performance in the almost 130 years of the Bank’s history; with solid business momentum, increased revenue, and excellent returns. The result reflects the continued positive impact of our strategy and the tremendous progress that we have made in growing and transforming the Group. The result also highlights the resilience of our business model, customer relationships and institutional capabilities”
society
Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi ~Oluwaseun Fabiyi
Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi
~Oluwaseun Fabiyi
On this momentous occasion, I am thrilled to honor my beloved sister, Falake, a paragon of kindness and industriousness, on her birthday, today, Friday ayaba Fabiyi Supo, 15th November 2024. Ma, the divine benevolence of God Almighty has bestowed upon you another year of life, replete with promise and opportunity.
It is also an opportune moment to reflect on your blessings and methodically enumerate them, thereby acknowledging the remarkable accomplishments of God in your life
As you commemorate another year of existence today, may the Supreme Being graciously continue to endow your life with success, benevolence, and unwavering favour, and henceforth, every utterance and account regarding you and your household shall be replete with good tidings
I fervently pray that God’s divine guidance and favor will continually be upon you, and may He graciously bestow His kindness upon you now and forever. Please accept my warmest congratulations and sincere best wishes
To my dearest Mummy Precious, I offer my warmest felicitations and hope your birthday celebration is exceptionally eventful.
Oluwaseun Fabiyi a seasoned Journalist writes from Lagos
society
The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.
The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.
…. Obedience is the Solution to Limitations
If somebody can start it, somebody can end it, obeying instructions can change any evil patterns in the life of people, pattern of sickness, Poverty, Late marriage and what have you, when you obey instructions you will breakout of the Limitations in your father’s house.
This was the case study at the day 2 of the ongoing The Limit Breaker Conference in Freetown Sierre Leone where over 2 million faithful received Prophetic Blessings from the servant of God, The Generational Prophet of God.
Teaching on the Topic, Breaking out from the Limitations of my Father’s House Part 2, The Convener Chris Okafor world outreach Ministry COWOM and Senior Pastor Grace Nation Global Dr Chris Okafor continue on the highlights said when you obey instructions, you are prone to be free from any bondage of your father’s house.
The Generational Prophet of God also remarked that , it is not that the devil is powerful but because of the lack of Knowledge of the People, he said ignorance is a licence to bondage therefore obedience is majorly the solution to ancestral Limitations, when you obey instructions the spirit that brings liberty locate you and you will be free from bondage and every spirit of Limitations from you father’s house, you will be free from it.
It was another Powerful and Prophetic movement of God at the Conference, God uses his servant the Generational Prophet of God Dr Chris Okafor to do what he knows how to do best, Addressing Various issues, calling Names, Names of villages, while Every evil altars holding people inheritance exposed, Profiling solution to every case file brought to the conference, it was indeed a life changing Prophetic encounter in the life of the good people of Sierre Leone, the testimonies that will come after the three days prophetic encounter will be enormous and according to a participant who will not want her name mention.
The conference continues on Friday 15th November 2024 ,Same Time and Venue
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