FBN Holdings Generated N89.7bn Profit in 2020…Gross Earnings Declined by 1.9%

0
Fbn Holdings' Profit Increases By 48 Percent As Assets Increase To N9.5 Trillion.
Fbn Holdings' Profit Increases By 48 Percent As Assets Increase To N9.5 Trillion.

FBN Holdings Plc (FBNH) released the 2020 full year financials showing a 1.9% decline in gross earnings. Notably, FBNH reported that its profit before tax grew by 11% to N84bn while Profit after tax grew by 22% to N89.7bn.

FBN Holdings’ net assets also grew by 15.7% from N661bn to N765bn.

The Board of Directors has recommended a dividend of 45 kobo per ordinary share of 50 kobo each, amounting to N16,152,881,755.95 (2019: N13,640,211,261.00). Withholding tax will be deducted at the time of payment.