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.