Connect with us
Advertisment

society

2023 HALF YEAR RESULT: FBN HOLDINGS POST N206BN PRE-TAX PROFIT

Published

on

2023 HALF YEAR RESULT: FBN HOLDINGS POST N206BN PRE-TAX PROFIT

 

Advertisment

FBN Holdings Plc, has reported a profit before tax of N206 billion for the half year ended June 30, 2023.

 

Advertisment

 

 

 

Advertisement

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.

 

2023 HALF YEAR RESULT: FBNHOLDINGS POST N206BN PRE-TAX PROFIT

 

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”

Advertisment

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

society

Primate Ayodele’s Prophecy Fulfilled As Deadly Flood Hits UAE, Kenya, Burundi (VIDEO)

Published

on

Niger: One Week After Primate Ayodele’s Warnings, Bandits Attack Nigerian Soldiers (VIDEO)

Primate Ayodele’s Prophecy Fulfilled As Deadly Flood Hits UAE, Kenya, Burundi (VIDEO)

 

Advertisment

 

If only leaders of nations are committed to listening to God-given instructions and warnings, the world would be a better place free of unnecessary chaos and panic but the incessant ignoramus attitude towards divine instructions by leaders make people become endangered in their own world.

Advertisment

God has blessed us with vessels that he speaks through, he has provided us with prophets like Primate Ayodele who on a daily basis shares the mind of God with mankind. Through vessels like Primate Ayodele, God warns presidents of countries ahead of time against unpleasant happenings but at all times, these warnings are ignored and sometimes, citizens sacrifice their lives because of the obstinacy of their leaders.

There is currently an issue of flooding globally which has led to the death of several people, displacement of thousands, destruction of properties worth billions of dollars and panic across continents but these could have all been avoided if leaders of the countries had listened to Primate Ayodele when he warned them in 2023 and early 2024.

The United Arab Emirates, a nation that had never recorded any heavy rain fall until a few weeks ago, is still counting losses and struggling to get back on its feet due to a deadly flooding that swept through the country.

Advertisement

The rainfall, which flooded streets, uprooted palm trees and shattered building facades, has never been seen in the Middle Eastern nation since records began in 1949. In the popular tourist destination Dubai, flights were canceled; traffic came to a halt and schools closed.

One-hundred millimeters (nearly 4 inches) of rain fell over the course of just 12 hours on Tuesday, according to weather observations at the airport – around what Dubai usually records in an entire year, according to United Nations data.

The rain fell so heavily and so quickly that some motorists were forced to abandon their vehicles as the floodwater rose and roads turned into rivers.

Meanwhile, Primate Ayodele had warned first in 2022 that he foresees climatic problems in the world which would cost a lot of money, lives and properties. He revealed then that the issue of flooding will come up in places that it has never happened before. He called on world leaders not to take climatic problems with levity because it will turn out to be very serious.

These were his words:

‘’I am seeing water and ecology problems, floods in Africa and many places that it hasn’t happened before … .natural catastrophe is imminent in 2023/2024. The issue of climatic problems must be taken very seriously, they must not joke with it….what we are saying will cost the world a lot of money, lives and properties..’’

@primateayodele

#primateayodele #iescworldwide #world #cnn #EU #europe #european #politics #peace #safe #SAFETY #food #water #climatechange

♬ original sound – Primate Ayodele

In his 2024 prophecy to the United Arab Emirates, Primate Ayodele called for prayers against disasters that will cause problems in the country.

These were his words:

‘’UNITED ARAB EMIRATE: The Emirate should pray against any disaster that will cause problems in the country. I foresee an unexpected incident in the Emirate that will require the people to be more careful than ever before.’’

Unfortunately, the prophecy has been fulfilled with the unexpected disastrous flooding that has shut down activities in the highly revered United Arab Emirates.

In the same vein, Kenya is currently battling with the effects of flooding that swept through almost half of the country.

At least 32 people have been killed and two are missing after flash floods swept as a result of the flood. Some 103,500 people in all have been affected.

Kenya has registered heavy rain since mid-March but downpours have intensified over the past week, leading to mass flooding. The Kenyan Red Cross says it has carried out over 188 rescues since the onset in March.

Some roads in the Kenyan capital of Nairobi were closed Wednesday and several neighborhoods remained submerged after another day of heavy rainfall.

In Primate Ayodele’s 2024 prophecies to the nation, he called on Kenyans to pray against flooding and cases of collapsed buildings.

These were his words

‘’KENYA : The spirit of God says Kenyans must pray against assassinations and the killing of any governor. I foresee there will be bomb scares and killings. They must pray against floods and cases of collapsed buildings. The spirit of God says the efforts of the Kenyan President William Ruto will be troubled and not appreciated. He should pray not to encounter a crisis in his government Cabinet. He must be careful against protests even as health workers will go on street protests in Kenya.’’

Similarly, People in Burundi are struggling to cope with flooding after months of heavy rains, with hundreds of thousands being displaced and many homes and schools damaged.

The relentless rain has resulted in the level of water in Lake Tanganyika rising considerably, causing chaos for communities living along its shores.

Lake Tanganyika’s rising waters have invaded the port of Bujumbura, Burundi’s economic capital, disrupting business there and elsewhere in the country.

This has also fulfilled the prophecy of Primate Ayodele warning African countries that there will be flooding and other natural disasters.

Primate Ayodele has always said that he doesn’t celebrate the fulfillment of his prophecies and doesn’t pray that they come to pass but world leaders have to start following divine instructions for the sake of their citizens and in order to avoid calamities like this.

Advertisment
Continue Reading

society

Justice For Chinemerem Anosikwa: Cut Down in His Prime

Published

on

Justice For Chinemerem Anosikwa: Cut Down in His Prime

 

Advertisment

 

In yet another tale of the unending brutality of the Nigerian Police Force, a member of visiting 12 PMF squadron identified as Inspector Aliyu Taofeek has sent one Mr. Patrick Chinemerem to his early grave over an undisclosed dispute.

Advertisment

Justice For Chinemerem Anosikwa: Cut Down in His Prime

 

According to reports, the killer policeman, Inspector Taofeek who was one of the policemen attached to Skymall Supermarket located in Sangotedo, Ajah area of Lagos State, stabbed Chinemerem to death and took to his heels after committing what’s clearly a premeditated murder.

Advertisement

 

 

 

According to reports, the fleeing policeman has been arrested and in custody according to the statement released by the Lagos Police Command. The sad incident which occurred a few days ago has sparked an outrage among members of the public who are demanding justice for Chinemerem. It would be recalled that police brutality led to the massive ENDSARS protest across the country a few years ago. Apparently, nothing much has changed since then, the latest murder of an innocent man by Inspector Taofeek is a reminder of the brutality embedded in the Nigerian Police Force.

 

 

In order to forestall another avoidable death, Nigerians are calling for swift investigation and prompt prosecution of Inspector Taofeek.

Advertisment
Continue Reading

society

Eko Cares: Group Commends Sanwo-Olu’s Compassionate Leadership On Social Interventions

Published

on

Eko Cares: Group Commends Sanwo-Olu’s Compassionate Leadership On Social Interventions

 

Advertisment

 

Governor Babajide Sanwo-Olu of Lagos State has garnered praise from The Mandate Movement for his decisive actions in the face of economic challenges with the launch of the ‘Eko Cares’ initiative. The initiative, aimed at alleviating the hardships faced by residents, particularly the economically vulnerable, has been lauded as a significant step towards improving livelihoods in the state.

Advertisment

 

 

 

Advertisement

The Chairman of The Mandate Movement, Abdullahi Ayinde Enilolobo, conveyed his gratitude to Governor Sanwo-Olu through a member of the group’s Central Working Committee (CWC), Prince Adewale Arogundade, for spearheading various interventions aimed at mitigating the adverse effects of inflationary trends. A total of 300,000 households are expected to benefit from the inaugural program.

According to Enilolobo, “This holistic approach shows Governor Sanwo-Olu’s commitment to addressing the multifaceted challenges facing Lagosians and ensuring that no one is left behind in the pursuit of progress. Additionally, measures such as free ante-natal care, reduced transportation fares, and support for small businesses underscore the government’s dedication to improving the quality of life for all residents.

“We at The Mandate Movement commend Governor Sanwo-Olu for this initiative put together for the residents of Lagos, which also collorates with the wonders of the Asiwaju Bola Ahmed Tinubu-led administration. This clearly shows that the All Progressive Congress (APC) remains a beacon of hope for Lagosians, and Nigerians at large.”

Residents across Lagos have begun to laud the ‘Eko Cares’ initiative, stating that the government has shown determination to prioritize the well-being of its citizens, embodying the principles of empathy, inclusivity, and resilience in the face of adversity.

 

Eko Cares: Group Commends Sanwo-Olu's Compassionate Leadership On Social Interventions

Advertisment
Continue Reading

Cover Of The Week

Trending