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Wednesday, March 22, 2023

First Bank GMD Purchases 854,281 New Shares in Bullish Bet

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Nnamdi Okonkwo, the Group Managing Director of FBN Holdings (the parent company of First Bank), has bought 854, 281 new shares in the bank.

The shares were purchased on August 19 for N10.75 per share, according to a filing on the NGX, for a total purchase price of N9.2 million.

First Bank reported a 48% jump in after-tax profit to N56.6 billion, in June 2022 when compared to the earlier 2021 period.

The rise in profit was mainly due to higher interest income and foreign exchange gains.

The shares of FBN Holdings closed trading on Monday at N10.75, -16.67% below its 52-week high of N12.90, set on Oct 25, 2021.

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