First Bank Nigeria 2008 gross earnings rise 40 pct

LAGOS, July 10 (Reuters) - First Bank Nigeria's (FBNP.LG) gross earnings for its full year to March 31, 2009, rose 40.17 percent to 218.28 billion naira ($1.49 billion), the Nigerian Stock Exchange (NSE) said on Friday.

But the bank's net profit for the period fell 65.73 percent to 12.57 billion naira, details of its financials released by the NSE showed.

Directors of Nigeria's oldest banking group have proposed a dividend of 1.35 naira per share and a bonus issue of one for every six shares held by July 20. (Reporting by Oludare Mayowa; Editing by Tume Ahemba/Will Waterman) ($1 = 146 naira)