Event

FBN Holdings Q3 2023 results showed a 75% year-on-year jump in gross earnings to N328.82bn from N187.94bn in Q3 2022. In line with other banks in the industry, the major growth driver came as the result of a 74% year-on-year rise in interest income to N251.52bn from N144.01bn in Q3 2022, thanks to a 52% and 139% year-on-year jump in income from loans & advances to customers and T-bills & investment securities, which came in at N159.04bn (Q3 2022: N104.39bn) and N75.75bn (Q3 2022: N31.68bn) respectively. 

Outlook

We expect the high-yield environment to remain over the near to medium term, owing to the stance of the monetary authorities. We believe that the Group’s earnings growth will be materially influenced by both interest income and other non-interest income components.

Please follow the link “FBNH Plc 9M 2023 – High Yield Environment Boost Bottom-line” to view the whole report.

Thank you.