CORPORATE BRIEF: FBNH PLC Revenue and Net income came in at 5.17% and 7.81% respectively

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In the recent First Bank of Nigeria Holdings Plc (FBNH) unaudited Q3 ’17 results, revenue and net income came in at 5.17% and 7.81% respectively compared to Q3 ’16 figures.  
Revenue was moderately boosted by interest income which comprises returns on investment securities, loans, and advances to banks and customers. Investment securities grew by 61.9% and were boosted by the high-interest environment.
FBNH cost lines were relatively high against Q3 ’16 as represented by interest expenses. This explained the decline in pre-tax income and marginal growth on net income aided by lower tax expenses.  
Key Highlights:
  • First Bank of Nigeria Holdings Plc Q3 ‘17  revenue and net income came in at 5.17% and 7.81% respectively compared to Q3 ’16 figures.
  • Revenue was moderately boosted by interest income which comprises returns on investment securities, loans, and advances to banks and customers. Investment securities grew by 61.9% and were boosted by the high-interest environment.
  • FBNH cost lines were relatively high against Q3 ’16 as represented by interest expenses. This explained the decline in pre-tax income and marginal growth in net income aided by lower tax expenses.
  • FBNH has a strong net book value per share of 17.58x owing to improved growth on its shareholders’ fund.
Kindly click on this link to see full details on the Corporate Brief of the firm.
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