FBN Holdings Plc says it is committed to repositioning its
business and reclaim the top position in the industry.
The Group Managing Director, FBN Holdings, UK Eke, said this
at the financial institution’s Annual General Meeting held in Lagos, and called
for the support of stakeholders, especially its shareholders.
He said the cost-to-income ratio of the group declined from
61.3 per cent to 47 per cent, while it recorded a rise in gross earnings
year-on-year by 15.7 per cent.
The Group Chairman, FBN Holdings, Oba Otudeko, said 2017 was
an important year for the business to overcome its challenges and leap back
into the path of sustainable growth.
In a related development, AXA Mansard Insurance Plc, at its
25th AGM, assured shareholders of continued progress despite the current
Nigerian economic challenges.
Its Chairman, Mr.
Olusola Adeeyo, said the company would exceed the expectations of shareholders
as it continued to explore more opportunities.
The Chief Executive Officer of the company, Mrs. Yetunde
Ilori, said the insurer ended 2016 with an underwriting expense ratio of 10 per
cent, which represented an improvement over 12 per cent recorded in 2015.
“Our claims ratio rose to 42 per cent from 37 per cent in
2015, driven by a combination of attributional and large one-off losses,” she
added.
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