FBN Holdings Records 137.4% Increase in Earnings Per Share

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FBN Holdings Plc (FBNH) has announced its 2024 full-year unaudited financial results, showing a significant 137.4% year-on-year increase in earnings per share to N20.40.

The company’s interest income surged by 158.4% year-on-year to N2.42 trillion, driven by higher yields in the fixed income market and a 69.4% expansion in earning assets.

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FBNH’s net interest income grew by 205.3% year-on-year to N980.93 billion, while non-interest income increased by 43.2% year-on-year to N847.28 billion.

Operating expenses rose by 73.4% year-on-year to N965.82 billion, but the company’s cost-to-income ratio improved to 52.8% from 61.0% in the previous year.

Profit after tax (PAT) was 137.3% higher at N736.73 billion, driven by the strong growth in operating income.

The company’s performance reflects its strategic focus on growth and efficiency, and its ability to navigate the challenges of the operating environment.

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