In H1:2022, FBN Holdings Plc (FBNH) reported a 23.31% YoY increase in its gross earnings to NGN359.31bn.
This improvement was hinged on growth in both interest and non-interest income. The group’s interest income
increased by 40.57% YoY to NGN226.35bn on the back of increase in all funded income revenue sources. Similarly,
nonfunded income advanced marginally by 1.98% YoY.
Ecobank Transnational Incorporated (ETI) recorded a 14.65% YoY increase in gross earnings to NGN507.03nbn in
H1:2022. In the review period, funded income grew by 12.19% YoY to NGN317.23bn as interest income across all sources appreciated except loan to banks (-24.79% YoY), while non-funded income expanded by 15.77% YoY to NGN173.78bn.
In H1:2022, First City Monument Bank Plc (FCMB) achieved a notable topline growth of 33.96% YoY to NGN126.22bn, which is the highest in at least five years. This performance was stimulated by growth in both funded
and nonfunded income.
Sterling Bank Plc (STERLNBANK)’s gross earnings grew by 14.24% YoY to NGN78.38bn in H1:2022, as both
funded and nonfunded income advanced. Interest income grew by 8.91% YoY to NGN59.06bn as income from retail
banking segment increased by 34.47% YoY, retail banking constitutes 21.33% of total interest income.
