First Bank Records N56.6bn Profit After Tax In H1 2022


First Bank has posted a profit after tax of N56.6 billion in H1 2022, accounting for 11% of the total profit of the listed banks.

NewsBeatng reports that in contrast to the previous comparable period, its net profit surged by 48.6% from N38.09 billion recorded in H1 2021.

The bank also recorded a 47.3% growth in its net interest income to N152.91 billion as well as a marginal improvement of 1.7% in its net fees and commissions income.

Meanwhile, personnel expenses gulped N55.31 billion, an increase of 7.9% year-on-year, while operating expenses jumped by 32.7% to N116.78 billion.


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