Market | Corporate Results

FBN Holdings Declares N151.08bn PAT in 2021 Audited Results; (SP:N11.55k)

May 26, 2022   •   by NGX   •   Source: NGX   •   eye-icon 1208 views

Thursday, May 26, 2022 / 10:03 AM / by NGX / Header Image Credit: FBN Holdings

FBN Holdings Plc released its 2021 Audited results for the period ended December 31st, 2021.

Key Highlights

  • Gross Earnings grew by 28.2% from N590.66bn to N757.3bn
  • Profit before tax stood at N166.66bn
  • Profit after tax stood at N151.08bn
  • Share Price Currently Stands at N11.55k

Nnamdi Okonkwo, the Group Managing Director while commenting on the results stated that: 

“I am very proud to have assumed the role of Group Managing Director of this great organisation in January 2022 and I am excited about building on the momentum of recent positive developments. 

Our performance over the course of 2021 is reflective of the resilience of the Group and underpins our growth strategy to generate sustainable value for all our stakeholders. As a Group, we are acutely aware of the macroeconomic challenges facing businesses and remain focused on carefully navigating the environment through innovation and by putting our customers at the centre of our attention. 

As a financial service holding company, driving synergies remains a critical part of our strategy and has been integrated into every aspect of our delivery model. We pride ourselves in the uniqueness of our diversified portfolio and the collaborative ecosystem that we have built around our lines of business, our customers, and the unique value proposition that we deliver. We are also increasingly leveraging technology – artificial intelligence, robotics, and other next-generation technological advancements, to deepen collaboration and further drive operational efficiency across the Group. 

Highlighting revenue and profitability, the Group delivered a stellar performance growing gross revenue by 28.2% to ₦757.3 billion and profit before tax by 99.1% to ₦166.7 billion. The 30.0% growth in loans and advances to ₦2.9 trillion and 16.2% growth in total asset to ₦8.9 trillion reaffirms our commitment to drive revenue and profitability as we complete the balance sheet clean-up. 

In 2022, our strategic focus is on revenue generation through digital channels and retail product offerings, further driving our synergy potential as well as continuing to improve our operating model to deliver more efficiencies”.

Visit FBN Holdings Plc IR Page in Proshare MARKETS

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