First Bank has announced a 12.4% increase in its profit before tax, reaching N147.0 billion by the end of 2022 compared to N130.9 billion in the same period of 2021.

The bank’s profit after tax also grew by 9.8% to N129.4 billion in December 2022 from N117.8 billion in December 2021.

These figures were disclosed in First Bank’s financial statement for the Group’s 2022 final year and 2023 first quarter results.

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The Chief Executive Officer of FirstBank (Commercial Banking Group), Dr. Adesola Adeduntan, expressed satisfaction with the results, highlighting the bank’s strong performance trajectory.

He noted the growth in gross earnings, totaling N748.6 billion, and emphasized the bank’s commitment to profitability.