E-Banking Boosts FBN Holding Profits As Investors Await Third Quarter Results – Blueprint Newspapers Limited
As investors in FBN Holding Plc anxiously await audited third quarter financial results for the period ending September 30, banking industry experts predict that the banking group will deliver strong profits based on its previous financial results. .
FBNHoldings recently informed the exchange and the investing public of the delay in filing its financial results for the period ending September, due to the ongoing audit.
The bank has set November 29, 2021 as the probable date for filing the financial result after approval by the shareholders and the umbrella bank, CBN.
FBN Holdings Plc, in the previous two quarters of 2021, saw strong growth in its loan portfolios issuing a total of 320.72 billion naira in six months, more than double what was recorded. in the first half of 2020 and more than what was issued during the nine-month period of 2020.
The banking group posted stable income from fees and commissions, thanks to its e-banking operations.
In Q1 and Q2 2021, FBN Holding experienced a streak of positive numbers, with electronic banking income making up the bulk of fees and commissions, generating a total of N 28.82 million in H1 2021 versus 21.72 million. million naira. at the first of 2020.
In the third quarter of 2020, e-banking revenues represented around 40% of fees and commissions. This strongly suggests that FirstBank, its commercial banking subsidiary, has been able to consistently use its digital platforms to provide financial services to its customers.
Electronic banking revenues are generated through various digital transactions used by the bank’s customers, which include fees and commissions from the use of the applications to commissions from automated teller machines (ATM), USSD channels, online banking, point of sale (POS) terminals and agency banking services.