FBN Holdings Plc (NGX: FBNH)

FBN Holdings Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,976,280	960,328	551,937	369,047	384,798	431,934
Interest Income on Investments	10,089	5,742	3,166	6,520	3,983	4,368
Total Interest Income	1,986,369	966,070	555,103	375,567	388,781	436,302
Interest Paid on Deposits	928,958	411,415	188,688	140,805	133,183	152,342
Net Interest Income	1,057,411	554,655	366,415	234,762	255,598	283,960
Net Interest Income Growth (YoY)	113.70%	51.37%	56.08%	-8.15%	-9.99%	-1.28%
Gain (Loss) on Sale of Assets	-162	-221	1,249	-79	199	348
Gain (Loss) on Sale of Investments	42,182	75,192	18,991	60,260	63,152	20,048
Other Non-Interest Income	812,787	519,910	213,636	297,870	118,603	113,118
Total Non-Interest Income	854,807	594,881	233,876	358,051	181,954	133,514
Non-Interest Income Growth (YoY)	116.45%	154.36%	-34.68%	96.78%	36.28%	6.86%
Revenues Before Loan Losses	1,912,218	1,149,536	600,291	592,813	437,552	417,474
Provision for Loan Losses	317,764	227,418	68,619	91,711	61,830	51,093
Revenue	1,594,454	922,118	531,672	501,102	375,722	366,381
Revenue Growth (YoY)	105.27%	73.44%	6.10%	33.37%	2.55%	12.69%
Salaries and Employee Benefits	278,270	179,090	117,376	128,772	100,584	95,873
Occupancy Expenses	50,539	29,480	20,982	20,022	18,634	16,401
Amortization of Goodwill & Intangibles	13,869	13,869	7,068	8,258	7,238	6,197
Selling, General & Administrative	175,315	103,166	55,094	45,768	37,346	45,950
Other Non-Interest Expense	375,436	238,458	173,425	131,362	103,071	126,761
Total Non-Interest Expense	892,599	563,243	373,770	334,440	266,391	291,095
EBT Excluding Unusual Items	701,855	358,875	157,902	166,662	109,331	75,286
Legal Settlements	-	-	-	-	-25,628	-
Pretax Income	701,855	358,875	157,902	166,662	83,703	75,286
Income Tax Expense	99,144	48,393	21,591	15,515	8,111	9,242
Earnings From Continuing Operations	602,711	310,482	136,311	151,147	75,592	66,044
Earnings From Discontinued Operations	5,120	-112	-138	-68	14,138	7,621
Minority Interest in Earnings	-6,074	-2,167	-1,770	-1,370	-1,744	-3,747
Net Income	601,757	308,203	134,403	149,709	87,986	69,918
Net Income to Common	601,757	308,203	134,403	149,709	87,986	69,918
Net Income Growth	115.65%	129.31%	-10.22%	70.15%	25.84%	21.19%
Basic Shares Outstanding	35,895	35,895	35,895	35,895	35,895	35,895
Diluted Shares Outstanding	35,895	35,895	35,895	35,895	35,895	35,895
EPS (Basic)	16.76	8.59	3.74	4.17	2.45	1.95
EPS (Diluted)	16.76	8.59	3.74	4.17	2.45	1.95
EPS Growth	115.65%	129.31%	-10.22%	70.23%	25.78%	21.19%
Dividend Per Share	0.400	0.400	0.500	0.350	0.450	0.380
Dividend Growth	-20.00%	-20.00%	42.86%	-22.22%	18.42%	52.00%
Effective Tax Rate	14.13%	13.48%	13.67%	9.31%	9.69%	12.28%

Source: S&P Capital IQ. Banks template. Financial Sources.