FBN Holdings plc has paid N1.10 dividend following the approval by its shareholders at its second annual general meeting in held last week in Lagos. At the meeting, shareholders of the Company endorsed its financials for the year
ended December 31, 2013.
FBN Holdings financials for the year ended December 31, 2013 showed it reported a gross earning of N395.9 billion as against the N370 billion recorded in 2012. Also at the meeting, FBN Holdings assured its shareholders of sustainable profit and improved performance in the financial year 2014.
Bello Marcido, chief executive officer, FBN Holdings told shareholders at the meeting that the Holding Company has designed a three-year strategic plan to boost operations, adding that the three-year strategic plan will run from 2014 to 2016.
He also noted FBN Holdings plc readiness to redefine its public sector engagement to enhance the entire value chain of the banking services to achieve its plan.
The group reported a declined profit before tax of N91.3 billion from the N93.9 billion in 2012. While profit after tax remained at N70.6 billion from N76.8 recorded the previous year.
Oba Otudeko, chairman, FBN Holdings plc said at the meeting that the investment banking franchise consolidated its position in the market closing a healthy number of landmarks deals in power, oil and gas, and infrastructure.
FBN Holdings plc has also notified the Nigerian Stock Exchange that its subsidiary, First Bank of Nigeria Limited, has now completed the acquisition of ICB Senegal, which represents the last jurisdiction of the West African assets of ICB Financial Group Holdings. The completion meeting to conclude the transaction was held yesterday May 27, 2014.
By this acquisition, First Bank has now completed its acquisition of ICB West Africa comprising operations in Gambia,
Ghana, Guinea, Sierra Leone and Senegal.
