FBN Holdings records 178% profit increase in 2017
FBN Holdings Plc seem unaffected by the recession that dogged the economy in 2017.
This assertion is informed by the massive profit posted by the company in the financial statement as contained in the the group’s Annual Report for the 2017.
The report which was released on Tuesday indicated a massive 178 percent growth in profit for the year under review.
According to the statement:“The Group’s profit after tax for the year ended December 2017 was ₦47.7 billion compared to ₦17.1 billion reported a year earlier. This represented a 178% increase year on year.
“Profit before tax for the company was ₦56.8 billion for the year ended December 2017, a 148% increase from the ₦22.9 billion reported a year earlier.”
The bank reported Gross Earnings of ₦595 billion for the year ended December 2017 compared to ₦581 billion reported for the period ended December 2016. This represents a 2.4% increase year on year.
FBN Holding also noted that earnings per share was N1.21 for the year compared to the 39 kobo reported as at the year ended December 2016. This represents a 210% increase year on year.
Following the good performance of the bank in 2017, a 25 kobo per share dividend was declared.
RECOMMENDED ARTICLES
Comment
No comments found.