Connect with us


FBN Holdings Plc Reports Third Quarter 2020 Profit of N21.9 Billion




Access Bank Nigeria Plc posted an improved after-tax profit (PAT) of 102.3 billion naira for the period ended September 30, 2020, according to its latest financial sent to the Nigerian Stock Exchange on Thursday.

The latest PAT figures show a gain of + 15.7% over the figures recorded during the corresponding period last year.

READ: Flour Mills Post Impressive Q3 and Support FY20 Recovery

Highlights of its 9M 2020 results

  • Profit after tax rose to 102.3 billion naira in the 9 months of 2020, up + 15.7% year-on-year.
  • Profit before tax also increased to 116.6 billion naira in the 9 months of 2020, indicating a gain of + 15.7% year-on-year.
  • Interest income calculated using the effective interest rate declined slightly to 317.7 billion naira, down -9.02% year-on-year.
  • Interest expense fell to 179.01 billion naira, down -8.1% year-on-year.
  • Net interest income declined to 196.3 billion naira, indicating a -6.6% year-over-year slide.
  • Net commission and fee income increased to 71.8 billion naira, up + 28.3% year-on-year.
  • Personnel costs rose to 57.1 billion naira, up + 4.4% year-on-year.
  • Other operating expenses increased to 163.8 billion naira, up + 34.0% year-on-year.
  • Earnings per share (basic) increased to N290, indicating a gain of + 7% year-on-year.
  • Loans and advances to customers increased to 3.09 trillion naira, indicating a gain of + 6.04% between December 2019 and September 2020.
  • Total assets also increased to reach N7.9 trillion between December 2019 and September 2020, indicating an increase of + 10.9%.

READ: Aviation: Nigerian ground handling companies account for lost revenue due to pandemic-induced drop

GTBank 728 x 90


Compared to the corresponding figures of last year, the significantly improved performance of income generating components such as net commission and commission income, net gains on financial instruments and net foreign exchange gains explain the increase in profit on an annual basis. .

The increase in total assets year over year is attributable to components of current and non-current assets such as gains on derivative financial assets, loans and advances to customers and investment securities, among others. .

Coronation announcements

READ: STANBIC IBTC reports after-tax profit of N45.2 billion in first half of 2020

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]