FBN Holdings grows H1'23 pre-tax profit to N206.2bn

FBN Holdings grows H1’23 pre-tax profit to N206.2bn

First Bank set to raise N300bn in new capital to meet CBN limit

First Bank of Nigeria Limited

FBN Holdings Plc has released its half year (H1) financial results for the period ended June 30, 2023 showing operating profit profit of N206.086billion as against N65.877billion in H1’22.

Its profit before tax rose to N206.261billion in H1’23 compared to N65.723billion in H1’22. Profit for the period stood high at N187.176 compared to N56.536billion in H1’2022.

FBN Holdings Plc with a free float value of N544.261billion (88.93percent) as at June 30, 2023 (June 30, 2022: N370.490billion (88.98percent) is compliant with the Nigerian Exchange’s free float requirements for companies listed on the Premium Board.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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