FBN Holdings records rise in half-year profits

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FBN Holdings Plc on Wednesday reported an increase in their profits before tax for the first half of 2015.

FBN Holdings posted a 7.9 per cent rise in pretax profit to N52.09bn from N48.25bn in the same period last year.

Its gross earnings stood at N271.3bn, up by 28 per cent year-on-year from N212bn in the first half of 2014, while net interest income was up by 15.2 per cent to N132.7bn, compared to N115.2bn last year, according to a filing to the Nigerian Stock Exchange.

The group’s total assets rose to N4.42tn in the period under review from N4.34tn last year, while its liabilities stood at N3.86tn, compared to N3.82tn in the same period of 2014.

Customer loans and advances edged lower by 4.3 per cent from N2.09tn to N2.18tn as of June 30, 2015. Customer deposits were up by 2.47 per cent from N3.05tn to N3.13tn.