FBN Holdings PLC, the parent company of First Bank Nigeria Limited, is planning to cut about 1000 jobs and focus less on providing loans to the oil industry in a bid to reverse the 2015 financial year's 82 percent slump in profit.
The lender expects to boost its return on equity, a key measure of profitability, to between 11 percent and 14 percent in 2016 from last year's "really bad" figure of three percent, according to the Chief Executive Officer of First Bank of Nigeria Limited, FBN's Mr. Adesola Adeduntan.
He said the company was also targeting a cost-to-income ratio of 55 percent.
- Blogger Comment
- Facebook Comment
Subscribe to:
Post Comments
(
Atom
)
0 comments:
Post a Comment