FBN Holdings Plc has announced N59.7 billion Profit After Tax (PAT) for the full-year ended December 31, 2018. The result released at the weekend also showed PBT also rose by 19.7 per cent from N54.5 billion in 2017 to N65.3 billion last year.

However, gross earnings dipped by two per cent from N595.4 billion in 2017 to N583.5 billion in 2018 while the group is proposing a dividend per share of N0.26 for 2018 as against N0.25 paid in the previous year.

The group’s total assets increased by 6.3 per cent y-o-y to N5..6 trillion as against N5.2 trillion driven by 33.3 per cent year-on-year increase in investment securities to N1.7 trillion compared to N1.2 trillion in 2017. Total customer deposits grew by 10.9 per cent year-on-year to N3.49 trillion (compared with N3.14 trillion in the previous year.

“Capital adequacy ratio for FirstBank (Nigeria) remains strong at 17.3 per compared with 2017 figure of 17.7 per cent, 230 basis points above the regulatory minimum of 15 per cent, while the capital adequacy ratio for FBN Merchant Bank closed at 12.2 per cent as against 13.5 per cent in the previous financial year above the 10 per cent regulatory requirement for merchant banks. See Report below