Browsing: FBNH

FBN Holdings Grows Profit by 95% to N365 Billion FBN Holdings Plc experienced strong earnings growth in the first half…

FBN Holdings market value has plunged by about 50% below its peak market value reached when Femi Otedola and Oba Otudeko ramped up the financial group company shares on the Nigerian Exchange.

The average yield on Nigerian Treasury bills (NTB) climbed by 68 basis points as deposit money banks, and other authorised dealers in the fixed income market reduced their holdings amidst spot rates adjustment expectations.

Investors saw N95 billion gain as equities market rebounded midweek after two consecutive negative performance in the week. Due to buying interest on some banking, and oil and gas name, the market recalibrated from downward trend, thus push the year to date return upward.

Selloffs on FBNH, GTCO and Lafarge WAPCO are among the decliners on the Nigerian Exchange (NGX) that dragged the local bourse downward by more than

Femi Otedola, FBN Holdings Plc’s chairman, raised its shareholding in the financial services group with direct and indirect share purchases worth N19 billion on Thursday, according to a regulatory filing.

Equities investors are currently taking position on some banking names on the Nigerian Exchange (NGX) amidst fresh rallies that started this week.

FBN Holdings grew profit by about 316% year on year in the first quarter of 2024, despite pressure from a huge FX loss. Details from its unaudited financial showed that profit after climbed to N208.113 billion from N50.054 billion in the comparable period in 2023.

Reversing the previous downturn, shares of Nigerian big banks are currently trading higher. The market had priced these stocks lower amidst weak sentiment in the local bourse last week, causing investors to lose N290.1 billion over five trading sessions.

FBN Holdings Plc’s (Ticker: FBNH) market value shrank by about 11% as some shareholders reacted negatively to its board of directors decision to slash final dividend by 20%.