FBNH Plc. 9M’ 18- Higher Interest And Operating Expenses Drags PBTOpeyemi Kolawole
FBNH Plc. for 9M 2018 results showed that Interest income declined by 5% y/y from N356 bn in 9M’2017 to N338 bn due to the 5% and 2% y/y reductions in income from investment securities as well as loans and advances given to customers respectively. Impairment charges reduced by 22% from N97.5 bn in 9M’17 to N76 bn in the current period. The firm also reported a significant growth in trading income which grew remarkably by 75% y/y from N15 bn in 9M’2017 to N26 bn. However, PBT and PAT declined by 7.4% and 2% respectively due to the 7% increase in operating expenses that increased from N172 bn in 9M’17 to N184 bn in 9M’18. Consequently, EPS reduced by 2.4% y/y from N1.25 in 9M’17 to N1.22.
Book Value Per Share- 19.38
Net Profit Margin- 10.68%
Return on Equity – 6.45%
Return on Asset- 0.84%
Price to book value- 0.49x
Year-to-Date Change- 6.82%
Total Loan to Total Deposit- 67.63%
Current Shares Outstanding- 35.89 billion
Price to Book Value- 2.23x
Please find attached FBNH Plc. 9M-2018 result.