The following warnings occurred:
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined variable $awaitingusers - Line: 34 - File: global.php(844) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/global.php(844) : eval()'d code 34 errorHandler->error
/global.php 844 eval
/showthread.php 26 require_once
Warning [2] Undefined array key "mybb" - Line: 1952 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 1952 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 629 mark_thread_read
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(732) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(732) : eval()'d code 5 errorHandler->error
/showthread.php 732 eval
Warning [2] Undefined array key "additionalgroups" - Line: 7162 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 7162 errorHandler->error
/inc/functions_user.php 844 is_member
/inc/functions_post.php 406 purgespammer_show
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(474) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php(474) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 474 eval
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showimages" - Line: 741 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 741 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 746 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 746 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "invisible" - Line: 1506 - File: showthread.php PHP 8.0.30 (Linux)
File Line Function
/showthread.php 1506 errorHandler->error
Warning [2] Undefined variable $threadnotesbox - Line: 30 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 30 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $addremovesubscription - Line: 79 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 79 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $forumjump - Line: 86 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 86 errorHandler->error
/showthread.php 1533 eval




Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
FBN Holdings, Sterling Bank Post Improved Six-month Profits
#1
FBN Holdings, Sterling Bank Post Improved Six-month Profits
July 31, 2018  BUSINESS



                          [Image: FBN-and-Sterling-Bank-Plc.jpg?resize=696%2C438&ssl=1]
FBN Holdings Plc and Sterling Bank Plc have announced their results for the half year (H1) ended June 30, 2018, showing higher profits.

Sterling Bank Plc recorded a higher profit growth. A breakdown of the results indicated that the bank’s profit after tax (PAT) grew by 63 per cent.

Specifically, Sterling Bank Plc recorded gross earnings of N77.637 billion, up 34 per cent from N57.1017 billion posted in the corresponding period of 2017. Net interest income (NII) fell from N27.018 billion to N25.547 billion, while fees and commission income rose from N5.902 billion to N6.896 billion. Credit loss reduced from N4.081 billion to N1.844 billion, while total expenses increased from N25.676 billion to N32.388 billion.


Despite the increase in expenses, Sterling Bank Plc ended the H1 with profit before tax of N32.388 billion, up from N4.334 billion to N6.388 billion showing an increase of 48 per cent. PAT grew faster by 63 per cent from N3.802 billion to N6.214 billion in 2018.

On the other hand, FBN Holdings Plc profit went up by 13.7 per cent. FBN Holdings Plc posted gross earnings of N293.3 billion in 2018, up from N288.8 billion. NII fell from N164.1 billion to N149.6 billion, while non-interest income rose from N50.5 billion to N61.3 billion. Impairment charges fell by 15.4 per cent from N62.4 billion to N52.8 billion.

Consequently, FBN Holdings Plc closed the period with a PBT of N38.9 billion, up 9.3 per cent from N35.6 billion. PAT stood at N33.5 billion, up 13.6 per cent from N29.5 billion in the corresponding period of 2017.

A further analysis of the FBN Holdings performance showed that non-performing loan(NPL) improved from 22 per cent to 20 per cent, while customers’ deposits increased from N3.1 trillion as at December 2017 to N3.3 trillion in June 2018. Loans and advances to customers fell from N2.0 trillion to N1/9 trillion.

Commenting on the results, the Group Managing Director, FBN Holdings, UK Eke said, “FBN Holdings continues to make steady progress towards delivering on its strategic targets. This has been demonstrated with a 13.7% y-o-y increase in profit after tax, 21.4 per cent year-on-year (y-on-y) growth in non-interest and 15.4 per cent y-o-y decline in impairment charge. Clearly, the Group is on its way to delivering its promises on asset quality, enhancing revenue generating capacity through non-interest income and driving further efficiencies.

“As we ramp up initiatives to grow interest income, we remain focused on the implementation of key initiatives across our subsidiaries and further strengthen our businesses towards delivering sustainable performance as well as optimising returns to our shareholders.”


http://www.akelicious.net/2018/07/fbn-ho...t.html?m=1
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Sterling Bank records 63.4 per cent half-year profit Edoman 0 2,323 08-03-2018, 07:55 PM
Last Post: Edoman
  Nigeria, Others To Get AFREXIM Bank’s $25bn Grant Edoman 0 2,332 07-22-2018, 06:02 PM
Last Post: Edoman
  Illegal Deductions: CBN Returns N65bn To Bank Customers Edoman 0 2,215 07-19-2018, 09:40 AM
Last Post: Edoman
  Bank stocks post N320bn loss in Q2 Edoman 0 1,798 07-11-2018, 12:41 PM
Last Post: Edoman
  World Bank Approves $2.1bn Loan For Seven Projects In Nigeria Edoman 0 1,660 06-28-2018, 08:08 PM
Last Post: Edoman
  W’Bank, Others Raise $1.57bn for Grid Expansion Edoman 0 1,439 06-27-2018, 01:19 PM
Last Post: Edoman
  Access Bank Raises $158m From 13 International Banks Edoman 0 1,681 06-20-2018, 10:34 AM
Last Post: Edoman
  More Than 60 Million Nigerians Are Unbanked – World Bank Edoman 0 1,524 06-18-2018, 01:40 PM
Last Post: Edoman



Users browsing this thread: 1 Guest(s)