Q1:2024 Earnings Update | GTCo | Performance Bolstered by Fair Value Gain
Performance Bolstered by Fair Value Gain Gross Earnings for Q1:2024 advanced 330.37% YoY to NGN680.38bn, primarily bolstered by impressive non-interest income. Elsewhere, Operating Expenses increased by 77.15% YoY to NGN99.45bn following a spike in personnel expenses, communications, technological related & admin expenses and AMCON charges. Profit Before Tax (PBT) and Profit After Tax (PAT) grew […]
Q1:2024 Earnings Update | UBA | Impressive Performance Riding on Core Banking Income
Impressive Performance Riding on Core Banking Income United Bank for Africa Plc. recently released its unaudited Q1:2024 financial result. Gross earnings grew 110.25% YoY to NGN570.16bn following impressive interest and non-interest income growth. Interest Income soared 129.71% YoY to NGN440.76bn while Non-Interest Income grew by 63.17% YoY to NGN129.39bn. On the other side, Operating Expenses […]
2023FY FBNH Unaudited Financial Result | Interest Income & Non-Interest Revenue to the Rescue
Below is a detailed overview of the unaudited financial result of FBNH for 2023FY. Interest Income & Non-Interest Revenue to the Rescue FBNH released the unaudited Full-year results for 2023, revealing a respective 88.52% YoY and 129.41% increase in Gross earnings and Profit Before Tax (PBT). Major drivers for earnings growth include higher interest income […]
FX Policy Reforms: CBN Guidance to the Banking Sector
Yesterday, the Central Bank of Nigeria (CBN) released a letter highlighting prudential guidelines to the banking sector, following the impact of the recent foreign exchange (FX) rate regime change. The letter observed the impact of the regime change on the banking sector and the resulting effect on the Naira value of banks’ foreign currency (FCY) […]
