FBN Holdings to release results on or before May 30, 2022

The Management of FBN Holdings, owners of First Bank, has confirmed it will release its audited results for the year ended December 2021 on or before the end of May 2022.

FBN Holding is yet to release its 2021 audited accounts and the first quarter 2022 results weeks after its competitors have published theirs.

It explained it is awaiting approval from its primary regulators, Central Bank of Nigeria.

The bank holding company confirmed it will release its audited financial statement and first quarter unaudited financial statements on or before May 30, 2022 after receiving the approval of the CBN.

It partly read, “FBN Holdings Plc (‘FBNH’ or ‘the Company’) wishes to notify the Nigerian Exchange Limited (‘NGX’ or ‘the Exchange’) and the investing public that the Company was unable to file and publish its Unaudited Financial Statements (Q’1 2022 UFS) for the first quarter ended March 31, 2022, by April 30, 2022, as required under the Rules of the NGX.

“The Company’s inability to publish was due to the delays in finalising the Audited Financial Statements (FY 2021 AFS) of the Group for the year ended December 31, 2021. The FY 2021 AFS was concluded and submitted to the Company’s primary regulator on April 29, 2022.

“FBNH plans to publish both the FY 2021 AFS and the 01 2022 UFS on or before May 30, 2022, by which time the necessary approval would have been obtained from our primary regulator.”

FBN Holding last reported its earnings in the third quarter of 2021 reporting a pre-tax profit of N40.7 billlion compared to N54.3 billion in the same period the year before.

The company share price has averaged N11.95 per share since its shareholders battled for who owned significant control.