National Wire About Nigerians, Nigerian Business and Other Stories
First Bank has announced N294.2billion gross earnings in its unaudited results for the six months ended 30 June 2019, an increase of 0.3% over 2018 half year result.
But the bank’s net-interest income went down by 2.0 % as against the 2018 half year result, from ₦149.6bn to N146.7bn.
Its non-interest income of ₦63.6bn, went up by 3.6% y-o-y (Jun 2018: ₦ 61.3bn), while operating income was down to ₦210.3bn from ₦210.9bn.
The bank also announced that its operating expenses of was up by 24.3 % to ₦148.3bn, up 24.3% from ₦119.3bn recorded in 2018 half year.
The bank recorded a profit before tax of ₦39.9bn, up by 2.6% y-o-y (Jun 2018: ₦38.9bn) and a profit after tax of ₦31.7bnn, down 5.4% y-o-y (Jun 2018: ₦33.5bn). The bank said its total assets hit ₦5.7 trn, up by 1.8% year-to-date (y-t-d) (Dec 2018: ₦5.6 trillion). Customer deposits, it said, hit ₦3.6 trn, up by 2.8% y-t-d (Dec 2018: ₦3.5trn), while customer loans and advances (net) hit ₦1.74 trn, up by 3.5% y-t-d (Dec 2018: ₦1.68 trn)
