Nigeria, Jan. 31 -- FBN Holdings hit a N3.3 trillion revenue milestone last year, up from N1.6 trillion in 2023, propelled by a surge in the interest income it earned from granting loans to customers and from investment securities.

That helped drive net profit to N738.9 billion from N310.4 billion.

The unaudited financials of Nigeria's oldest lender released on Thursday saw net interest income, which accounts for the difference between interest income and what banks pay to borrowers as well as what it pays for keeping depositors' money, accelerate to N1.4 trillion from N546.3 billion a year ago.

Over two years of uninterrupted interest rate hiking by the Central Bank of Nigeria has created a honey pot for lenders to feast on as it allo...