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FBN declares N70.63bn profit in 2013

By BusinessNews Staff on April 29, 2014

First Bank of Nigeria Holdings (FBNH) Plc on Tuesday posted a profit after tax of N70.63 billion for the financial year ended Dec. 31, 2013.

The News Agency of Nigeria (NAN) reports that this was against the N76.80 billion posted in 2012.

The report is contained in the company’s audited result released by the Nigerian Stock Exchange (NSE) on Tuesday in Lagos.

The profit represented a decrease of eight per cent when compared with the 2012 figure.

The profit before tax stood at N91.34 billion against N93.92 billion achieved in the previous year, a decrease of three per cent.

The bank’s net interest income stood at N230.12 billion against N226.61 billion achieved in 2012, representing a growth of 1.55 per cent.

The bank has proposed a dividend of N1.1 per share in contrast with N1 declared in the corresponding period of 2012.

NAN reports that the payment of the proposed dividend, if approved by the shareholders on May 22, will be paid on May 26. (NAN)