A Glance: FBNH Plc Q3 ended Sept 2017
- First Bank of Nigeria Holdings Plc Q3 ‘17 revenue and net income came in at 5.17% and 7.81% respectively compared to Q3 ’16 figures.
- Revenue was moderately boosted by interest income which comprises returns on investment securities, loans and advances to banks and customers. Investment securities grew by 61.9% and was boosted by high interest environment.
- FBNH cost lines were relatively high against Q3 ’16 as represented by interest expenses. This explained the decline in pre-tax income and marginal growth on net income aided by lower tax expenses.
- FBNH has a strong net book value per share of 17.58x owing to improved growth on its shareholders’ fund.
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