• Thursday, July 25, 2024
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BusinessDay

FBN Holdings further pushes top line growth across its group

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FBN Holdings plc said it will continue to push top line growth across its group with an emphasis on customer acquisition, high growth products and segments.

It also said it will drive cost efficiency by continuing to leverage shared distribution platforms across the group; accelerating the deployment and usage of alternative delivery channels; and maintaining a staffing structure that is appropriate for its business.

Bello Maccido, managing director, FBN Holdings plc who disclosed this last Thursday during the “facts behind the figures” presentation at the Nigerian Stock Exchange (NSE) also noted Holding Company readiness to increase focus on capital efficiency by optimising portfolio risk weighted assets (RWAs) across groups and geographies; optimising mix of other earning and non-earning assets; and judiciously growing risk weighted assets and deposits.

Maccido also told the entire capital market community that FBN Holdings plc will “continue to deliberately mine and deliver group-wide synergies in marketing, sales and distribution, and over time, select back office functions as we seek to be the 360 degrees financial services provider to our clients”.

He further noted that the financial institution has consolidated its ‘first’ position among Nigeria’s financial institutions, adding that we are “First in Nigeria by total assets, gross loans and total deposits, with strong local franchise.”

In 2012, FBN Holdings plc recorded total assets of N3.186trillion (11 percent increase against 2011). In first-quarter (Q1) 2013 it stood at N3.459trillion (16 percent increase against Q1 2012 level).

In 2012, its gross loans stood at N1.581trillion (23 percent increase against the level in 2011) and in Q1 2013 it closed at N1.586trillion (16 percent increase against the level in Q1 2012).