FBN HOLDINGS PLC FBN Holdings Plc.
Unaudited Consolidated Financial Statements for the period ended June 30, 2023
FBN Holdings Plc. | |
DIRECTORS AND ADVISORS | |
DIRECTORS: | |
Ahmad Abdullahi | Non-Executive Director (Group Chairman) |
Nnamdi Okonkwo | Group Managing Director |
Adesola Adeduntan | Non-Executive Director |
Abiodun Oluwole Fatade | Independent Non-Executive Director |
Alimi Abdul-Razaq | Independent Non-Executive Director |
Peter Aliogo | Independent Non-Executive Director |
Ahmed Modibbo | Independent Non-Executive Director |
Kofo Dosekun | Independent Non-Executive Director |
Khalifa Imam | Independent Non-Executive Director |
Julius B. Omodayo-Owotuga | Non-Executive Director |
Oyewale Ariyibi | Executive Director |
AG. COMPANY SECRETARY: | Adewale L.O Arogundade |
REGISTERED OFFICE: | Samuel Asabia House |
35, Marina | |
Lagos | |
AUDITOR: | KPMG Professional Services |
KPMG Tower, Bishop Aboyade Cole Street | |
Victoria Island, Lagos | |
Telephone: +234 271 8955 | |
Website: www.kpmg.com/ng | |
REGISTRAR: | Meristem Registrars & Probate Services Limited |
213 Herbert Macaulay Way | |
Yaba, Lagos | |
BANKERS: | First Bank of Nigeria Limited |
35 Marina, | |
Lagos | |
FBNQuest Merchant Bank Limited | |
2, Broad Street | |
Lagos | |
TAX IDENTIFICATION NUMBER: | 15562790-0001 |
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FBN Holdings Plc.
Certification pursuant to section 60(2) of Investment and Securities Act No. 29 of 2007
We the undersigned hereby certify the following with regards to FBN Holdings Plc financial report for the period ended June 30, 2023 that:
- We have reviewed the report;
- To the best of our knowledge, the report does not:
- contain any untrue statement of a material fact, or
- omit to state a material fact, which could make the statements misleading in the light of the circumstances under which such statements were made.
- To the best of our knowledge, the financial statements and other financial information included in the report fairly represent in all material respects the financial condition and results of operations of the Company as of June 30, 2023 and the periods presented in the report.
- We:
(i) are responsible for establishing and maintaining internal controls.
- have designed such internal controls to ensure that material information relating to the Company and its consolidated subsidiaries is made known to such officers by others within those entities particularly during the period in which the periodic reports are being prepared.
- have evaluated the effectiveness of the Company's internal controls as of date within 90 days prior to the reports.
- have presented in the report our conclusions about the effectiveness of the Company's internal controls based on our evaluation as of that date.
- We have disclosed to the auditors of the Company and the audit committee:
- all significant deficiencies in the design or operation of internal controls which would adversely affect the Company's ability to record, process, summarize and report financial data and have identified for the Company's auditors any material weakness in internal controls, and
- Any fraud, whether or not material, that involve management or other employees who have significant role in the Company's internal controls.
- We have identified in the report whether or not there were significant changes in the internal controls or other factors that could significantly affect internal controls subsequent to the date of our evaluation, including any corrective actions with regards to significant deficiencies and material weaknesses.
NNAMDI OKONKWO | OYEWALE ARIYIBI | |
Group Managing Director | Executive Director | |
FRC/2014/ICA/00000006963 | FRC/2013/ICAN/00000001251 |
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FBN Holdings Plc.
Shareholding Structure and Free Float Status | ||||
Company Name: | FBN Holdings Plc | |||
Board Listed: | Premium Board | |||
Period End: | December 31 | |||
Reporting Period: | Period ended June 30, 2023 | |||
Share Price at end of reporting period: | N17.05 (June 30, 2022: N11.60) | |||
Description | 30 June 2023 | 31 June 2022 | ||
Unit | Percentage | Unit | Percentage | |
Issued Share Capital | 35,895,292,791 | 100% | 35,895,292,791 | 100.00% |
Substantial Shareholdings (5% and above): | ||||
Mr. Femi Otedola (Direct) | 10,000,000 | 0.03% | 10,000,000 | 0.03% |
Mr. Femi Otedola (Indirect) | 1,989,342,376 | 5.54% | 1,989,342,376 | 5.54% |
Total Substantial Shareholdings | 1,999,342,376 | 5.57% | 1,999,342,376 | 5.57% |
Directors' shareholdings (direct and indirect), excluding directors with substantial | interests | |||
Alhaji Ahmad Abdullahi | - | 0.00% | - | 0.00% |
Mr. Nnamdi Okonkwo | 9,019,300 | 0.03% | - | 0.00% |
Mrs Kofoworola Dosekun | - | 0.00% | - | 0.00% |
Sir. Peter Aliogo | - | 0.00% | - | 0.00% |
Mr. Ahmed Modibbo | - | 0.00% | - | 0.00% |
Mr. Khalifa Imam | - | 0.00% | - | 0.00% |
Dr. Abiodun Fatade | - | 0.00% | - | 0.00% |
Dr. Alimi Abdul-Razaq | - | 0.00% | - | 0.00% |
Dr. Adesola Adeduntan | 18,871,689 | 0.05% | 18,871,689 | 0.05% |
Julius B. Omodayo-Owotuga | - | 0.00% | - | 0.00% |
Mr. Oyewale Ariyibi | 4,008,850 | 0.01% | - | 0.00% |
Total Directors' Shareholdings | 31,899,839 | 0.09% | 18,871,689 | 0.05% |
Other Influential Shareholdings: | ||||
Mr. Tunde Hassan-Odukale (Direct) | 27,530,930 | 0.08% | 27,231,887 | 0.08% |
Mr. Tunde Hassan-Odukale (Indirect) | 1,552,705,788 | 4.33% | 1,548,696,194 | 4.31% |
1,580,236,718 | 4.40% | 1,575,928,081 | 4.39% | |
UBAPFC/Leadway Pensure RSA Account | 362,347,446 | 1.01% | 362,347,446 | 1.01% |
Free Floats in Units and Percentage | 31,921,466,412 | 88.93% | 31,938,803,199 | 88.98% |
Free Floats in Value (N) | 544,261,002,324.60 | 370,490,117,108.40 |
For the purpose of this report only, the shares held by UBAPFC/Leadway Pensure RSA Account are not considered as free floating in view of the relationship of Mr. Tunde Hassan-Odukale with Leadway Pensure Limited.
Declaration:
FBN Holdings Plc with a free float value of N544,261,002,324.60 (88.93%) as at June 30, 2023 (June 30, 2022: N370,490,117,108.40 (88.98%) is compliant with the Nigerian Stock Exchange's free float requirements for companies listed on the Premium Board.
Adewale L.O Arogundade
Ag. Company Secretary
FRC/2014/NBA/00000006810
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FBN Holdings Plc.
INCOME STATEMENT | GROUP | |||||||
Q2 ended | Year to date | Q2 ended | Year to date | |||||
30 Jun. | 30 Jun. | 30 Jun. | 30 Jun. | |||||
Note | 2023 | 2023 | 2022 | 2022 | ||||
N 'million | N 'million | N 'million | N 'million | |||||
Continuing operations | ||||||||
Interest income | 4 | 203,676 | 383,286 | 116,905 | 226,353 | |||
Interest expense | 5 | (78,193) | (145,956) | (36,789) | (73,441) | |||
Net interest income | ||||||||
125,483 | 237,330 | 80,116 | 152,912 | |||||
Impairment charge for losses | 6 | (40,731) | (57,628) | (10,420) | (21,711) | |||
Net interest income after impairment charge for losses | ||||||||
84,752 | 179,702 | 69,696 | 131,201 | |||||
Fee and commission income | 7a | 45,984 | 88,851 | 36,983 | 70,693 | |||
Fee and commission expense | 7b | (7,576) | (15,146) | (5,936) | (12,323) | |||
Net fee and commission income | 38,408 | 73,705 | 31,047 | 58,370 | ||||
Foreign exchange income | (101,443) | (98,418) | 10,764 | 16,510 | ||||
Net gains on sale investment securities | 8 | 9,972 | 43,253 | 7,819 | 22,408 | |||
Net gains/(loss) from financial instruments at FVTPL | 9 | 231,793 | 229,744 | (3,524) | 11,271 | |||
Dividend income | 10 | 4,274 | 4,404 | 2,807 | 2,891 | |||
Other operating income | 11 | 2,614 | 5,257 | 4,456 | 9,179 | |||
Personnel expenses | (33,924) | (65,222) | (29,692) | (55,308) | ||||
Depreciation, amortisation and impairment | (7,482) | (14,634) | (6,632) | (13,886) | ||||
Other operating expenses | 12 | (78,983) | (151,705) | (57,454) | (116,759) | |||
Operating profit | ||||||||
149,981 | 206,086 | 29,287 | 65,877 | |||||
Share of profit/(loss) of associates | 22 | 175 | 175 | (82) | (154) | |||
Profit before tax | ||||||||
150,156 | 206,261 | 29,205 | 65,723 | |||||
Income tax expense | 13 | (13,005) | (19,024) | (5,045) | (9,121) |
PROFIT FOR THE PERIOD FROM CONTINUING OPERATIONS | 137,151 | |
Discontinued operations | ||
Loss for the period from discontinued operations | 27.3 | (29) |
PROFIT FOR THE PERIOD | ||
137,122 | ||
Profit attributable to: | ||
Owners of the parent | 136,940 | |
Non-controlling interests | 182 | |
137,122 |
Earnings per share attributable to owners of the parent
Basic/diluted earnings per share (expressed in naira per share): From continuing operations
From discontinued operations
From profit for the period
187,237 | 24,160 | 56,602 |
(61) | (25) | (66) |
187,176 | 24,135 | 56,536 |
186,323 | 23,837 | 55,779 |
853 | 298 | 757 |
187,176 | 24,135 | 56,536 |
5.19 | 1.55 | |
(0.00) | (0.00) | |
5.19 | 1.55 |
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FBN Holdings plc published this content on 20 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2023 15:49:30 UTC.
