As we await FBN Holding Plc’s third quarter audited financial result for the period ended September 30, we consider previous performances and build expectations for forthcoming results.

   FBN Holdings Plc, in the previous two quarters of the year 2021, has recorded strong growth in their loan books issuing out a total of N320.72 billion in six months, over double of what was recorded in H1 2020 and more than what was issued in the nine months period of 2020.

  The banking group has posted steady income arising from fees and commission, on the back of its e-banking operations.  In Q1 and Q2 2021, we see positive numbers streak in as electronic banking revenue constitute the bulk of fees and commission income, generating a total of N28.82 million in H1 2021 compared to N21.72 million in H1 2020.

   By third quarter of 2020, electronic banking revenue accounted for roughly 40% of fees and commission income. This strongly suggests that FirstBank, its commercial banking subsidiary has been able to consistently utilise its digital platforms in delivering financial services to its customers.

  Electronic banking revenue is generated through various digital transactions utilised by the bank’s customers, which include fees and commissions from apps usage to commission from Automatic Teller Machines (ATM), USSD channels, internet banking, Point of Sale (POS) terminals and agency banking.

  In March 2021, the bank launched its wholly owned international remittance platform named First Global Transfer product to promote the international transfer of funds across its subsidiaries in sub-Saharan Africa in a bid to encourage diaspora remittances.

   Prior to this, the bank has been in partnership with Western Union, MoneyGram, Ria, Transfast, and WorldRemit, also partnering with other International Money Transfer Operators (IMTOs), to promote remittance inflow into the country, putting Nigerians and residents at an advantage in receiving money from their families, friends and loved ones across the world.

    Recall that, the interest in the bank’s shares drove prices up more than 65% in almost four weeks as investors were looking to scoop up as much shares as possible, hence, we experienced massive rally in prices prior to the notice recently released by the bank disclosing the entities holding over 5% of the group’s shareholding.

 It could be presumed that the interest in the bank’s shares is fueled by certain initiatives by the bank’s management and its corporate governance.

   FBNHoldings recently notified the exchange and investing public of the delay in filing its financial results for the period ended September, owing to the audit being carried out.

  The bank has pegged November 29, 2021 as the likely date for the financial result to be filed upon approval by shareholders and the apex bank, CBN.

  FBNHoldings share price closed at N11.65 as at Friday, October 29, 2021. The share price has appreciated by over 62% from year-to-date

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