BUSINESS

FBN Holdiings Pays N28.76bn Deposit Insurance Premium To NDIC In 2023

 

FBN Holdings Plc, the Group Holding company of First Bank Nigeria Limited, in 2023, paid a sum of N28.76 billion as a deposit insurance premium to the NDIC, a 7.4% increase when compared to the N26.77 billion paid in 2022.

This is according to data extracted from the audited financial statements of the banks as published on the Nigerian Exchange (NGX).

The bank has a deposit-risk of 0.23% to rank fifth among the nine publicly listed commercial banks.

Meanwhile, total deposits jumped by 52.4% year over year to N12.47 trillion in the same period. 

This was however significantly lower than the 0.33% printed in 2022. 

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