Home Economy FBN Holdings posts N36.5bn PBT in Q1 2022

FBN Holdings posts N36.5bn PBT in Q1 2022

by Chief-Editor
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FBN Holdings Plc has posted N36.5billion profit before tax in its unaudited result and accounts for first quarter (Q1) ended March 31, 2022 from N18.9billion reported in first quarter ended March 31, 2021.

The Holdings on the Nigerian Exchange Limited (NGX) reported 32.2 per cent increase in gross earnings to N180.5billion in Q1 2022 from N136.6billion in Q1 2021.

From the profit and loss figures, the Holdings grew interest income by 40 per cent to N109.4billion in Q1 2022 from N78.4billion in Q1 2021.

The Group Managing Director, FBN Holdings, Nnamdi Okonkwo in a statement said, “Despite the fact that the first quarter of this year witnessed significant macro uncertainties that impacted the operating environment, FBNHoldings delivered a 108per cent year-on-year growth in profit for the period.

“We are pleased to have delivered this robust performance that is in line with our strategic priorities of further enhancing revenue-generating capabilities, improving overall performance, and delivering sustainable value to all our stakeholders.”

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