FBN Holdings’ quarterly profit grows to N26.33bn

FBN Holdings Plc, the holding company of First Bank of Nigeria Limited, has reported a profit before tax of N26.33 billion for the second quarter of the 2021 financial year, compared to N12.73 billion in the same period a year earlier.

Its profit after tax, however, fell to N22.45 billion in Q2 2021 from N23.76 billion in Q2 2020, according to its unaudited financial statements released on Thursday.

The company’s net interest income fell to N51.031 billion in the period under review from N71.02 billion in Q2 2020, while its net fee and commission income rose to N28.95 billion from N25.98 billion.

Deposits from customers increased to N5.08 trillion as of June 30, 2021 from N4.89 trillion at the end of December last year, while loans and deposits to customers rose to N2.54 trillion from N2.22 trillion.