FBNH’s Gross Earnings for Q1:2024 grew remarkably by 181.41% YoY to NGN730.27bn primarily due to the impressive growth in interest income. Interest income soared 153.32% YoY to NGN454.98bn while non-interest income surged by 244.56% YoY to NGN275.29bn. Elsewhere, Operating Expenses grew by 91.40% YoY to NGN212.78bn following the spike in personnel expenses (+107.47% YoY to NGN64.94bn) and operational and other losses (+1513.87% YoY to NGN18.50bn). Mirroring its 2023FY earnings result, the Group posted an impressive growth in its bottom line. Profit Before Tax (PBT) and Profit After Tax (PAT) grew by 325.15% YoY and 315.61% YoY to NGN238.53bn and NGN208.16bn respectively. Consequently, Net Profit Margin improved by 9.20% to 28.50% in the period.
ARM Securities Limited is a full-service brokerage house that offers best-in-class brokerage services to local as well as foreign private and institutional investors. Formerly known as Hamilton Hammer, the Company commenced operation in 1994 and was acquired by ARM Investment Managers in 2008--an acquisition which has successfully re-positioned the company as a recognized brokerage firm in Nigeria. The Company is a dealing member of the Nigerian Stock Exchange (NSE) and is regulated by Securities and Exchange Commission (SEC). ARM Securities research team provides insightful commentaries on the Nigerian economy and its equity and debt markets using an approach which incorporates a thorough understanding of the fundamentals of the industries and companies under coverage. The research therefore adopts an integrated methodology of top-down analysis and bottom-up stock selection, which focuses on publicly quoted companies on the Nigerian Stock Exchange that are judged to offer the highest potential for earnings growth. In addition, its analysts provide periodic commentaries on a range of topical global and local issues which provide investing clients with a holistic view of the opportunities and risks in today’s financial market landscape.
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