Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,162,452 members, 7,850,580 topics. Date: Wednesday, 05 June 2024 at 04:42 AM |
Nairaland Forum / Nairaland / General / Business / First Bank’s Profit Plunges 82% In 2015 (11129 Views)
Naira Declines By 0.82%, Settle At N370/$ / Naira Plunges At Interbank Market / 8 Banks Pay N3.32bn As Fine In 2015 (2) (3) (4)
Re: First Bank’s Profit Plunges 82% In 2015 by Caracta(f): 2:46pm On Apr 27, 2016 |
daveP: Huh? Who/What is that? 1 Like |
Re: First Bank’s Profit Plunges 82% In 2015 by Nobody: 8:55am On Apr 28, 2016 |
emekamigo: NAIRALANDERS,it's not a joke.I have woken up everyday for the past 4 days with debit alerts of all kinds from Firstbank for services I can't explain.Please,am tired of all these.Is there any other bank that is more responsible and customer money friendly? See the one I got this morning"Int.Coll:30-03-2016 to 27-04-2016". And for the 4 days the have debited my account with almost 500 naira. I want to close my accouńt with them. |
Re: First Bank’s Profit Plunges 82% In 2015 by daveP(m): 10:30pm On Apr 29, 2016 |
Caracta:having no apparent reason by to use the smiley. KingTom's own smiley, thus the name. what's new? weekend? |
Re: First Bank’s Profit Plunges 82% In 2015 by mark3009(m): 10:43pm On Apr 29, 2016 |
7footre:LOL on sms charge on birthday. Who send them make dem send u bday sms if dem wan charge put? |
Re: First Bank’s Profit Plunges 82% In 2015 by 7footre(m): 11:35am On May 02, 2016 |
mark3009:No mind those pkomo men |
Re: First Bank’s Profit Plunges 82% In 2015 by Peterwins(m): 12:06pm On May 02, 2016 |
FBN unduly exposed itself to the Oil and Gas sector. I taught they should have learnt their lessons during the 2007/2008 global melt-down/crude oil price crash. I wonder why some Nigerian banks over-extend themselves to the oil and gas sector, when they can actually dig-in their heels and create huge market potentials in other sectors. However making N21.5B profit before tax (77% down y-o-y) isn't too bad for their avoidable misadventure into the oil and gas sector. |
Re: First Bank’s Profit Plunges 82% In 2015 by Peterwins(m): 12:19pm On May 02, 2016 |
Net impairment charge on credit losses amounted to N119.3 billion (Dec 2014: N25.9 billion). This was attributable to the recognition of impairment on some specific accounts as well as collective exposures following reassessment of the loan book in the commercial banking business due to the sharp decline in global oil prices, the volatile macro environment, and fiscal and monetary headwinds which have resulted in marked reduction in domestic output. Active remedial actions on the specific impaired accounts have commenced. The main sectors impacted are oil and gas, real estate and general commerce; contributing 59.7%, 12.3% and 10.2% to the impairment charge respectively.^source: http://ir.fbnholdings.com/wp-content/uploads/2014/02/FBN_Holdings_Plc_FY-2015_Results_Press_Release.pdf ^^I guess this was the major cause of their disappointing results. However I would like to know the details of those specific accounts that led to these huge credit losses with oil and gas making up to about 60% of these losses. |
Re: First Bank’s Profit Plunges 82% In 2015 by Peterwins(m): 12:53pm On May 02, 2016 |
citizenisb: The Sea Wolf deal was a bad deal from inception. Perhaps it was just a "legal" money laundering avenue for everyone involved. They really milked FBN dry. Some of the innocent staff would have to pay for their executive management's misdemeanor. |
Setting-up A Fuel Filling Station (pre-feasibility & Cost Analysis) / CBN Begins Restructuring Of NSPMC, Retires Directors / Step By Step To Signup Clickbank Account In Nigeria
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 17 |