Half year 2017 financials for FBN Holdings saw interest income soar by 37% to N232bn. Interest expense was up by 58% to N68bn translating to a 30% rise in net interest income to N164bn. Net gains from foreign exchange dipped by 91% to N5bn this together with a 23% rise in operating expense resulted in a 22% drop in pre-tax income to N36bn while after-tax income dropped by 18% to N29bn.
The group's balance sheet in the period revealed a 3% rise in total assets. Loans and advances were up by 8% to N3bn while deposits inched up by 1% to N3.5bn hence, loans to deposit ratio was up 5 percentage points to 77%. Financial liabilities grew by 21% while total liabilities rose by a meager 3%. Net assets in the period stood at N610bn. See details below.
| Income Statement | H1 2017 | H1 2016 | % Change |
| Interest Income (mn) | 232,378 | 169,201 | 37% |
| Interest Expense (mn) | 68,293 | 43,151 | 58% |
| Net Interest Income (mn) | 164,085 | 126,050 | 30% |
| Net Gains on Foreign Exchange | 5,008 | 52,914 | -91% |
| Operating Expense (mn) | 65,347 | 53,135 | 23% |
| Loan Loss Expense (mn) | 62,408 | 69,914 | -11% |
| PBT (mn) | 35,628 | 45,886 | -22% |
| TAX Expense/Credit (mn) | 6,142 | 10,031 | -39% |
| PAT (mn) | 29,486 | 35,855 | -18% |
| Balance Sheet | H1 2017 | FY 2016 | % Change |
| Fixed Assets (mn) | 85,860 | 88,315 | -3% |
| Total Assets (mn) | 4,881,070 | 4,737,805 | 3% |
| Loans & Adv (mn) | 2,730 | 2,529 | 8% |
| Deposits(mn) | 3,565 | 3,520 | 1% |
| Financial Liabilities (mn) | 383,817 | 316,792 | 21% |
| Total Liabilities (mn) | 4,271,146 | 4,154,230 | 3% |
| Net Assets (mn) | 609,924 | 583,575 | 5% |
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