FBN Holdings: Interest income continues to drive earnings
Ope Ani
29 Jul 2022 · Results First Look
FBN Holdings: Interest income continues to drive earnings
FBN Holdings (FBNH) released its H1 22 unaudited results before trading hours today. The group reported Pre-tax profits (+45.3% y/y) and Net profits (+48.0% y/y) growth during the period. Similarly, reported Pre-tax profits (+10.9% y/y) and Net profits (+7.6% y/y) for Q2 22 standalone also rose.
On balance, earnings were driven primarily by growth in Net Interest Income (NII), specifically Interest income following substantial growth in customer loans during the period.
The market's reaction to the results was neutral. Year-to-date, the stock is down by 1.3%
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