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FBN Holdings declares N25.7bn profit in Q1 2020

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Alleged N13.5bn debt: Ecobank asks First Bank to reject Otudeko’s share acquisition

Adebayo Obajemu

First Bank of Nigeria Holdings (FBNH) in the first quarter of 2020 reported a profit after tax of N25.7 billion. This represents a growth of 62.74% when compared to the profit after tax of N15.79 billion reported in the first quarter of 2019.

The unaudited financial statement for Q1 2020 of the big elephant revealed gross earnings of N155.66 billion, up by 13.24% when compared to the gross earnings of N137.46 billion in Q1 2019.

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For the period under review, the earnings per share of the FBNH grew to 72 kobo from 44 kobo in Q1 2019.

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