FBN Holdings Plc which owns First Bank of Nigeria Limited has announced that the members of the board will be meeting on March 22, 2016 to discuss the financial performance of the group.
The meeting will also decide if they will be paying any dividend to shareholders in respect of the 2015 financial year and also fix a date for the bank’s annual general meeting.
FBN Holding on 24 February issued a profit warning that its 2015 earnings will be significantly lower than that of the previous year. The management blamed the lower expected earnings on recognition of impairment charges on some specific accounts resulting from a reassessment of the group’s loan portfolio.
FBN Holding share price closed at N3.70 per share on 8 March 2016. The company share price is down 27.9 percent since the beginning of 2016.