Business News

First Bank reports N50bn as profit in Q1 2023

First Bank of Nigeria Holdings (FBNH) last week reported its Q1 result for the period ended 31 March 2023.
The Holding Company achieved Gross Earnings of N261.426 billion for the 3 months ended, up by 44.86% from N180.471 billion reported in Q1 2022.

Profit after tax of N50.054 billion was reported for the period under review, up by 54.48% from N32.401 billion reported the previous year.

Earnings per share of FBNH stands at N1.39.
At the share price of N14.25, the P/E ratio of FBNH stands at 10.22x with earnings yield of 9.79%.