Despite the tough operating environment, the First Bank Holdings Plc Group has delivered higher topline revenues year-on-year, closing the review period with gross earnings of N757.3bn, a 28.2% growth driven by significant growth in Non-Interest Income .
He explained that in Nigeria, the impact of the pandemic was felt differently following four consecutive waves of the coronavirus, further compounded by heightened insecurity levels across the country, rising debt to GDP ratio, debt servicing to revenue ratio, shrinking disposable income on the back of rising double-digit headline inflation and a very volatile foreign exchange market.
Abdullahi revealed that FBN Holdings, through its largest subsidiary First Bank of Nigeria Limited , remains an active member of the Coalition Against COVID-19 , the private sector initiative working with the governments and regulators on multiple initiatives to contain the virus, ameliorate the attendant pains and revamp the economy for recovery and future growth.
According to him, “Leveraging our technology and innovation ecosystems, the Group continued to provide leading-edge business solutions across segments that drove the overall performance of our portfolio of businesses. The relentless development of next-generation capabilities through targeted investments in technology yielded positive results for the Group and has been instrumental in securing our place in the industry.
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