By Amaka Ifeakandu
Lagos
FBNHoldings Plc has recorded an impressive result for the third quarter financial year ended September 30, 2017 as its profit increased to N16.066 billion. The result showed a surge of N9.403 billion or 141.12 per cent against N6.663 billion reported in the preceding year. The company result submitted at the Nigerian Stock Exchange (NSE) showed that profit before tax went up from N11.570 billion to N19.806 billion, representing a growth of N8.236 billion or 71.18 per cent
A breakdown of the company nine months financial result indicated that interest income rose to N123.698 billion from N108.376 billion recorded in the corresponding period of last year, while interest expenses grew from ( N32.515 billion) in the comparative period to ( N33.438 billion) at the end of September this year. Fee and Commission income dropped to N17.521 billion from N17.993 billion made in comparative period of 2016. Net Insurance Premium revenue declined from N3.337 billion to N2.544 billion while operating profit stood at N19.744 billion.
The company total assets surged to N4.863 trillion from N4.736 trillion reported in December last year . Loans and advances to customers stood at N2.043 trillion from N2.083 trillion recorded the December 2016. Total Liabilities inched up to N4.232 trillion from N4.154 billion achieved at the end of 2016 financial year. Deposit from customer rose to 2.938 trillion from N3.104 trillion reported in December last year.
