FBN Holdings records 134% growth in 9-month earnings
FBN Holdings Plc on Thursday announced its unaudited results for the 9 months ended September 30, 2024 with the gross earnings up by 134% year-on-year to N2.2 trillion as against N962.4bn in the previous year. According to the results, Profit Before Tax (PBT) increased by 128% to ₦610.9 billion as against N267.9bn in the previous […]
FBN Holdings Plc on Thursday announced its unaudited results for the 9 months ended September 30, 2024 with the gross earnings up by 134% year-on-year to N2.2 trillion as against N962.4bn in the previous year.
According to the results, Profit Before Tax (PBT) increased by 128% to ₦610.9 billion as against N267.9bn in the previous year.
Other highlights of the results are the Interest income of ₦1,633.0 billion, up 164.6% year-on-year (y-o-y) while Net-interest income of ₦873.9 billion was recorded, up 132.7% as against ₦375.5 billion recorded previously.
Group Managing Director commented: “FBNHoldings delivered a strong performance in the first nine months of 2024, achieving significant growth driven by the effective execution of our strategic priorities.
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Despite a challenging macroeconomic environment, our focus on operational efficiency, customer-centric innovations, and prudent risk management continues to generate sustainable value for our stakeholders.
Gross earnings rose by 134% to ₦2.3 trillion, while Profit Before Tax (PBT) increased by 128% to ₦610.9 billion, showcasing our ability to deepen customer relationships, optimize revenue streams, and deliver strong returns. Cost-to-income ratio continues to improve as we leverage technology to drive earnings at a pace that outstrips cost.
“Looking ahead, we remain focussed on executing our digital transformation strategy, enhancing customer experience, and driving long-term growth.