Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


FBN Holdings targets 15% growth

14 June 2013, 12:02

Lagos - Bello Maccido, Chief Executive Officer, FBN Holdings Plc, on Thursday said the company was targeting 15 per cent growth in deposit  for its retail banking franchise in 2013.

Maccido said this at the company's 'Facts Behind the Figures’ on the Nigerian Stock Exchange (NSE) in Lagos.

He said that the company would continue with its aggressive deposit mobilisation strategy through its commercial banking subsidiary to achieve the set target.

Maccido said that the company would open additional 45 branches in 2013 to ensure huge market penetration and low cost deposit generation across the country.

He said that the company reinforced the banking group position as a retail franchise with additional 70 branches in 2012 to increase savings and number of depositors.

Maccido said that the bank’s current total branch network stood at 807.

According to him, the company recorded a deposit base of N2.4 trillion during the 2012 financial year, against N1.59 trillion achieved in 2011.

The chief executive officer said that the Holding Company was targeting a 20 per cent growth in dividend payment in 2013.

He said that the company had completed its migration programme and would ensure enhanced coordination among the group for value creation.

"We will continue to sustain our momentum and create value to all stakeholders,’’ Maccido said.

Meanwhile, the company, recorded gross earnings of N359.8 billion in 2012 against the N273.8 billion posted in 2011, an increase of 31.4 per cent.

Profit before tax stood at N92.7 billion compared with the N35.8 billion declared in 2011.

Profit after tax moved up to N75.7 billion from N18.6 billion recorded in the preceding year.

Its operating income increased by 25.8 per cent to N298.3 billion in contrast to  N237 billion recorded in 2011, while customer deposits stood at N2.4 trillion against N2 trillion announced in 2011.

The company’s total assets grew by 11.4 per cent from N2.9 trillion in 2011 to N3.2 trillion in 2011.

 - NAN


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...