By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-First Bank of Nigeria Holdings Plc (FBNH) on Wednesday said its first quarter (Q1) 2014 profit before tax (PBT) fell 21 percent to N24.779 billion from N31.409 billion in the same period of 2013.

Similarly, profit after tax (PAT) declined 13 percent to N21.555 billion in the Q1 of 2014 from N24.691 billion in the corresponding period of 2013.

However, gross earnings increased slightly 6.4 percent to N81.479 billion in the review period of 2014 from N76.570 billion in the Q1 of 2013.

As at the close of trading at the Nigerian bourse, share price of FBN Holdings gained 20 kobo as it opened at N13.96 and closed at N14.16.

FBNH had earlier on Tuesday reported its profit for the year in 2013 dropped eight percent (8%) to N70.631 billion from N76.801 billion in the same period of 2012.