FBN Holdings PLC says the bank’s 3rd quarter 2016 performance demonstrates its underlying resilience, despite the ongoing macroeconomic and business challenges.

According to the management, this has been achieved through sustained revenue generation as well as increased cost efficiency.

FBN Holdings posted a 7 percent increase in gross earnings to 417.3 billion Naira in the third quarter of 2016.

Profit before tax however declined 3.5 percent at 57.4 billion Naira compared with 59.6 billion Naira in the corresponding period of 2015.

Profit after tax was also down 15.3 percent to 42.5 billion Naira, while earnings per share fell to 156 kobo for the period.

The company has assured its customers that the group remains committed to ensuring sustained improvement in First Bank’s performance, with a view to restoring shareholder value.