First Bank Plc gets a date at the Exchange

THE management of First Bank plc has a date with the Nigerian Stock Exchange to present the company’s Facts Behind the Figures.

According to an information on the website of the exchange today, this is expected to be done on 26 April.

Market watchers are eagerly awaiting the results of the bank’s full year audited account, an anxiety that appears to be piling bearish pressure on the bank’s stock, which has crashed about 25 per cent since its February high of N12. In today’s trading the stock declined by 34 kobo to close at N9.26.

By the NSE’s calendar, the audited report ought to have been turned in by 31 March. And it was not clear today that the presentation at the exchange will coincide with the release of the bank’s audited accounts for 2011.

Several banks such as GTB, Stanbic IBTC, Zenith Bank, FCMB have released their full year results, with GTB and Zenith leading in dividend payout to stakeholders. FCMB did not declare a cash payout but gave a bonus of 3 for 20 shares.

One of Nigeria’s leading commercial banks, it posted in a Profit After Tax (PAT) of N42.9 billion for the third quarter of 2011.

The figure was N32.5 billion for the same period last year, representing a 31.7 per cent increase.

The bank recorded gross earnings of N211.166 billion, as against N177.065 billion in 2010, about 19.3 per cent growth.

It also grew its deposits by 38 per cent, from N1.6 trillion to N2 trillion.