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FBN Holdings Plc Q3 2017 Conference Call and Earnings Presentation - The Key Takeaways

Proshare

Friday, October 27, 2017 4:46PM / Proshare Markets 

FBN Holdings Plc held its Q3’17 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals. 

The management of the bank stated that modest improvements were recorded in macroeconomics indices with sustained foreign currency interventions. Marginal growth recorded in Gross Domestic Products with reduced inflationary pressure as well as accretion to foreign reserves following increased crude oil price and production volume. 

Resilient revenue generating capacity is sustained from a stronger balance sheet by the bank as its earning generating capacity remained very strong with 5.2% YoY growth recorded in gross earnings, increasing to N439.2bn in 9M 2017 from N417.4bn in 9M 2016 while its impairment charge for credit losses stood at N97.6bn in 9M 2017 as against N114.7bn in 9M 2016. 

The bank’s cost to income ratio closed at 53.4% in 9M 2017 from 48.4% in 9M 2016 while its adjusted FX revaluation cost to income ratio closed at 53.5% in 9M 2017 as against 58.9% in 9M 2016. 

On risk management and asset quality, the bank made good progress in strengthening credit approval processes as well as improving asset quality, remediation and associated metrics across the group. 

In a nutshell, below are the key takeaways from the Q3 2017 earnings presentation made by the bank’s management: 

1.  The bank made steady progress and achieved an NPL ratio of 20.1% in Q3 2017 which is in line with the less than or equals to 20% FY 2017 guidance set by the bank.  

2.  The bank’s 2017-2019 strategic outlook remained on course.  

3.  The bank’s plans to achieve a single digit NPL ratio by 2019 also remained unchanged.  

4.   The bank coverage ratio improved to 57.2% as it continued to strengthen its balance sheet; and  

5.   Its vintage NPL ratio is less than 1% which reflects its moderate risk appetite.



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