{"id":2922,"date":"2013-05-01T11:24:51","date_gmt":"2013-05-01T11:24:51","guid":{"rendered":"http:\/\/disnaija.com\/nigeria-news\/fbn-holdings-grows-profit-pays-n1-dividend\/"},"modified":"2013-05-01T11:24:51","modified_gmt":"2013-05-01T11:24:51","slug":"fbn-holdings-grows-profit-pays-n1-dividend","status":"publish","type":"post","link":"https:\/\/disnaija.com\/fbn-holdings-grows-profit-pays-n1-dividend\/","title":{"rendered":"FBN Holdings grows profit, pays N1 dividend"},"content":{"rendered":"
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First Bank of Nigeria Holdings Plc on Tuesday announced a profit before tax of N92.7 billion for the financial year ended Dec.31, 2012.<\/p>\n

In a press statement issued in Lagos, the company said the profit before tax represented a growth of 158.5 per cent compared to the N35.8 billion declared in the corresponding period of 2011.<\/p>\n

It said profit after tax grew by 306 per cent to N75.7 billion against N18.6 billion recorded in the preceding year.<\/p>\n

The statement said the board of directors of the company was proposing a dividend payment of N1 per share to all shareholders.<\/p>\n

It said gross earnings increased by 31.4 per cent to N359.8 billion against the N273.8 billion posted in 2011.<\/p>\n

The company’s operating income increased by 25.8 per cent to N298.3 billion in contrast with N237 billion in the previous year, while customer deposits stood at N 2.4 trillion against N2 trillion announced in 2011.<\/p>\n

Also, its total assets grew by 11.4 per cent from N2.9 trillion in 2011 to N3.2 trillion during the period under review.<\/p>\n

Commenting on the results, Malam Bello Maccido, the Chief Executive Officer, FBN Holdings, said that the focus was on consolidating the group’s leadership position in Nigeria.<\/p>\n

Maccido said that the company would continue to grow its different business lines and ensure provision of financial solutions to its customers across the entire value chain.<\/p>\n

“We are intensifying efforts to facilitate the realisation of these synergies, crystallise cross selling opportunities and deepen the relationship with our customers,” he said.<\/p>\n

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Source: PM News<\/p>\n

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