FBN Holdings today released its financial statements for the year ended December 2017.

Here are the key highlights of the results;

Revenue

The bank reported Gross Earnings of ₦595 billion for the year ended December 2017 compared to ₦581 billion reported for the period ended December 2016. This represents a 2.4% increase year on year.



Profit Before Tax



Profit before tax for the company was ₦56.8 billion for the year ended December 2017, a 148% increase from the ₦22.9 billion reported a year earlier.

Profit After tax

The Group’s profit after tax for the year ended December 2017 was ₦47.7 billion compared to ₦17.1 billion reported a year earlier. This represented a 178% increase year on year.

Earnings Per Share

FBN Holding also reported earnings per share of N1.21 for the year compared to the 39 kobo reported as at the year ended December 2016. This represents a 210% increase year on year.

Dividend declared

The Company declared a dividend of 25 kobo per share for the year.

https://nairametrics.com/first-bank-2017-fy-results/

Ok. Nice one tho.. Gross earning 595, PAT 47? Majority of dose expenses na Dem directors chop am.. Anyways it is their profit. What do I knw..
Its gonna be a great day.first topic first to comment.. Wish � all nairalanders a great day ahead.Big blessings ova d hustle today.
God bless us all

The dude above me, sha

Buhari thank u our FBN reserve az grown. we no nid loan again b dt. abi wetin b d meaning of FBN.. FEDERAL BANK OF NIGERIA?

HeWrites:
The dude above me, sha

How I go do nah... Wen my fone Na 10g nko.. I no fit kee masef

X

It would be good to know what costs were removed/reduced to cause the giant leap. Maybe a fine? It definitely wasn't due to increased revenue even though that increased as well.

Profit after tax was 47.7 billion
For one year ooo

Wey the sponsors of bbnaija can get in two months

Since it is called BB Naija
And BB stands for BlackBerry
Willing investors should come let us form our own

Tecno Naija

After all we are lazy Nigerian Youths

They try

FBN will always be number one. Kudos to the giant Elephant

Allee90:
FBN will always be number one. Kudos to the giant Elephant

OK we hear number one, what percentage of the profit will go to staff that work their a*s off to generate this profit. A bank that failed to improve staff welfare since 2011 na bank?

chieyine:
Profit after tax was 47.7 billion
For one year ooo

Wey the sponsors of bbnaija can get in two months

Since it is called BB Naija
And BB stands for BlackBerry
Willing investors should come let us form our own

Tecno Naija

After all we are lazy Nigerian Youths

wetin u sabi. The whole bbn no generate reach 1.5billion . the sponsors lik payporte are simply wastin money. Thier business is not sustainable. Ask jumia and konga. Carry ur olodo from here

The evolution of Tech

Most of the profits declared by financial institutions are from your usage of USSD, mobile App and SMS charges

............

See how I woke up this morning knowing fully well that my future is not just a dream with #MyPal4Life @palpensions
I will #RetireWithASmile

Be like me talk to @palpensions

You don't mean it ...
I don't trust all this banks...

Moahmed:


OK we hear number one, what percentage of the profit will go to staff that work their a*s off to generate this profit. A bank that failed to improve staff welfare since 2011 na bank?

the GM nd AGMs would get at least 50m each. The remaining staff dem go get crumbs. Nigeria for u

Which kind reporting be this. You never defined what FBN meant. Is it First bank of Nigeria or what

ideology:
The evolution of Tech

Most of the profits declared by financial institutions are from your usage of USSD, mobile App and SMS charges

wrong. Revenue comes from net interest income majorly.(loans). See below. See ratio of interest income and bank charges

One of the worse things that has happened to Nigeria is her banking sector. They do not help businesses, they CANNOT give loans to their customers (they loan to only the government meanwhile customers bring the money), nothing to help their customers with their businesses. ALL THEY DO IS SAVE YOUR MONEY. They are glorified piggy banks. God please save Nigeria.

yeyerolling:
the GM nd AGMs would get at least 50m each. The remaining staff dem go get crumbs. Nigeria for u

.

Do you think they will even allow the bank labourers (staff) to get even the crumbs?

Allee90:
FBN will always be number one. Kudos to the giant Elephant

Until the giant elephant starts stealing your money with style in the name of frivolous charges..

Moahmed:
.

Do you think they will even allow the bank labourers (staff) to get even the crumbs?

capitalism doesnt give a hoot . Most of the management staff own those outsourcing ,security and consulting firm they use to milk d banks more. If u cant beat dem join dem

Nigerian banks and their exploitation.... why won't they get high profit...

Our banking sector keeps declaring huge profits without giving back to the society that grows it. I wonder what the CBN is doing. These banks just collect money from the public and trade with it without giving any form of assistance to the teeming businesses and entrepreneurs who are supposedly growers of every economy.

The banks decline to give loans on merit. How do you grow the economy when all banks do is collect from the public and refuse to give back? The banks would rather fund political campaigns and churches who contributes nothing to the real sector of the economy. Imagine!

Nigeria is being run as an elite enterprise, how does First Bank massive profit affect the lives of the 80% Nigerians who are poor? and to even think these statistics is what the poor people (who has been brainwashed) will use as indices for economic growth.
These poor cannot even access credit facilities at a lower rate from these organizations, while the elites continue to reels out massive borrowings to themselves, a loan that which will eventually be cleared by the government (AMCON) by the time they default payment.

BandAid:
Our banking sector keeps declaring huge profits without giving back to the society that grows it. I wonder what the CBN is doing. These banks just collect money from the public and trade with it without giving any form of assistance to the teeming businesses and entrepreneurs who are supposedly growers of every economy.

The banks decline to give loans on merit. How do you grow the economy when all banks do is collect from the public and refuse to give back? The banks would rather fund political campaigns and churches who contributes nothing to the real sector of the economy. Imagine!

loans are available bt there are stringent conditions and the rates make no sense. 22-27% imagine. When in saner climes u can get loan of 3-5%. Bt in times past nigerians too have scammed them alot. The society is just messed up. We have see where farmers used bank loans to marry more wives, some used d loans to port abroad, even the collateral pple use for loans u can get injunction to prevent its takeover. So we cant blame the banks o. They prefer to give otedolar ,adenuga or dangote cos if gobe happen amcon is there

Hnn

Hmmmmm!!! I just op say no be window-dressing cha

Nigeria Economy doesn't obey any Economic theory. ...Or how can all these organisations explain the factors that lead to their huge profit gains when they were all shouting Economy downturn at the same year

Hmmmm....

juddexy2:
FBN Holdings today released its financial statements for the year ended December 2017.

Here are the key highlights of the results;

Revenue

The bank reported Gross Earnings of ₦595 billion for the year ended December 2017 compared to ₦581 billion reported for the period ended December 2016. This represents a 2.4% increase year on year.



Profit Before Tax



Profit before tax for the company was ₦56.8 billion for the year ended December 2017, a 148% increase from the ₦22.9 billion reported a year earlier.

Profit After tax

The Group’s profit after tax for the year ended December 2017 was ₦47.7 billion compared to ₦17.1 billion reported a year earlier. This represented a 178% increase year on year.

Earnings Per Share

FBN Holding also reported earnings per share of N1.21 for the year compared to the 39 kobo reported as at the year ended December 2016. This represents a 210% increase year on year.

Dividend declared

The Company declared a dividend of 25 kobo per share for the year.

https://nairametrics.com/first-bank-2017-fy-results/

yeyerolling:
wetin u sabi. The whole bbn no generate reach 1.5billion . the sponsors lik payporte are simply wastin money. Thier business is not sustainable. Ask jumia and konga. Carry ur olodo from here

U say e no reach 1.5 billion
Carry your olodo comot for here

People wey dey sing 30billion in d Akant