First Bank PLC

Key Performance Metrics

  • The review of Net Profit Margin witnessed a surging trend. The Net Profit Margin improved from 432% in 2018 to 933% in 2022.
  • The average EBIT Margin for the period under analysis was 7.13% with 2020 and 2021 performing the worst and best, respectively.
  • In the current year, First Bank ICR was 6.49 times in the current year- compared to 2018 when it was 0 times
  • The Asset Turnover stood at 0.01 times in 2022 from 1.01 in 2018, implying a poor performance or Assets of the business in relation to revenue.

Profitability

  • The revenue of First Bank has increased year on year. The revenue decreased by -0.18% between 2018 and 2019 and a further 48.45% decrease was recorded between 2019 and 2020. There also occurred an increase of 103.02% between 2021 and 2022 (the current period). 
  • First Bank performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.

Liquidity

  • The company’s result in liquidity looks poor, as loan to deposit remained from 01:1 to 0.01:1 on the last year. Which implies that the company does not have enough assets to settle its current liabilities.

Capital Structure

  • FedEx is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been falling year on year. The gearing position of the company appears to be low as it stood at 0.06 in the current year.
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Source: First Bank Annual Report

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