By Niyi Jacobs
In a remarkable display of financial prowess, FBN Holdings, Nigeria’s oldest and most prestigious financial institution, has announced a staggering pre-tax profit of N411.9 billion for the first half of 2024. This unprecedented feat marks the company’s best-ever half-year performance, surpassing previous records and exceeding expectations.
Under the new leadership of Chairman Femi Otedola and Managing Director/Chief Executive Olusegun Alebiosu, FBN Holdings has demonstrated a remarkable turnaround, with pre-tax profits soaring by 18.9% year-on-year. This impressive growth is a testament to the company’s strategic vision and commitment to excellence.
The half-year results, released yesterday, reveal a significant boost in profitability, with pre-tax profits more than doubling the N205 billion reported for the same period in 2023. This outstanding performance is expected to delight shareholders and reinforce FBN Holdings’ position as a leader in the Nigerian financial sector.
The company’s remarkable achievement is attributed to the effective implementation of its strategic initiatives, focused on driving growth, improving efficiency, and enhancing customer experience. With this stellar performance, FBN Holdings sets a new benchmark for the industry and cements its status as a trailblazer in Nigerian finance.
