BREAKING: FBN Holdings declares N309.89bn profit in 2023

FBN Holdings Plc on Thursday announced N309.89billion profit after tax in its unaudited full year ended December 31, 2023.

This is an increase of 127.58per cent from N136.17billion declared in full year ended December 31, 2022.

The unaudited result and accounts released on the Nigerian Exchange Limited (NGX) revealed N362.24billion profit before tax in 2023, representing an increase of 129.66 per cent from  N157.73billiion in 2022. 

The group declared N1.52trillion gross earnings in 2023 from N805.13billion reported in 2022.

From financial position, total assets hits N16.9trillion in 2023, representing an increase of 59.73 per cent from N10.58billion in 2022.

The management of FBN Holdings  on Wednesday announced the appointment of Mr. Femi Otedola as their new Chairman.

The billionaire investor succeeds the outgoing Chairman of the board, Alhaji Ahmad Abdullahi.

The acting company sectary, FBN Holdings, Mr. Adewale Arogundade in a notification to the Nigerian Exchange Limited (NGX) and the investing public said that the board and directors at a meeting held January 31, 2024 appointed Otedola as the new Chairman of the board of Directors.

Before now, Oredola was appointed to the Board of FBN Holdings on August 15, 2023 as a non-executive Director.