Dear Subscriber,

First Bank Nigeria surprised the market by delivering impressive H1’2023 earnings. This performance was pleasing to investors who went into overdrive in pushing the share price higher by 57.4% in the last 6 months to N18.65 from N11.85.

In spite of the hostile policy environment of the currency redesign policy, election jitters, and the removal of subsidy, FBN remained focused on its core strategy of reaping from the economies of scale. 

The bank refused to be distracted by shareholder squabbles and maintained steadfastness on its fintech intensity and digital transition. FBNH has shed its toga as a staid old bank and earned the reputation of a reinvented ageless institution in the 21st century. In the near future, strong and big banks like FBNH will likely gobble up some slimmer rivals in the new era of banking consolidation, imminent in 2024.

In the download and link, FDC Think Tank gives a detailed breakdown and analysis on the performance of  FBN Holdings.

Enjoy your read!