FBN Holdings Plc: Searching Through the Lines


Tuesday, August 22, 2017 7:00AM / Proshare Research   

FBNHoldings Plc (FBNH) has a rich history, with deep penetration in the Nigerian market. FBNH has the second highest number of branches in the country, with 875 business locations in the country.  Moreover FBNH has the second deepest deposit base in the country   with a strong financial intermediation of N2 trillion in loans. 

Obviously, given the rich history and the asset strength FBNH has always been a cynosure of market participants.  The present financial dynamic whereby FBNH still retains strong earning leverage but with growing dilution in its profit after taxes: Hitherto have caused asset managers to have diversely held positions on how to tag risk to First bank holding. 

Certainly, providing risk notion held individually by some asset manager have become inevitable at this point. Thereby we are able to look through the lenses of such asset manager to have a glimpse on how they view FBNH.  More importantly it does serve as a scale to weigh whether FBNH is experiencing any material risk escalation. 


Trading activities on FBNH shares reflected that it recorded +1.53% gains with 51.54mln volumes valued at N308.24mln traded on the day the banked released its Q2 2017 results while it closed negative the next day, July 28th, 2017, with -3.18% loss recorded and 96.86mln volumes valued at N548.66m traded. 

For more details on Banking Sector Performance, kindly download our FBN Holdings Plc Comprehensive Performance Assessment Report


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