FCMB Group announces half year result, reports N94.2bn revenue

FCMB Group Plc has reported a gross revenue of N94.2 billion and Profit Before Tax (PBT) of N8.9 billion for the half-year ended June 30, 2021.

These were the highlights of the Group’s unaudited results for half-year released on the floor of the Nigerian Stock Exchange (NSE) floor on Wednesday, July 28, in Lagos.

Other performance indicators showed an increase in non-interest income to N17.9 billion from N17.5 billion in the corresponding period of 2020. Loans and advances grew by 15 per cent Year-on-Year and 3per cent Quarter-on-Quarter to N916.7 billion in June 2021.

Customer confidence in FCMB remained strong, as deposits were up by 21per cent Year-on-Year and 1 per cent Quarter-on-Quarter to N1.3 trillion within the six months of this year, while total assets increased by 14per cent Year-on-Year and 4 per cent Quarter-on-Quarter to N2.24 trillion.

Moreover, Assets Under Management (AUM) grew impressively by 10 per cent   Year-on-Year to N500.0 billion in June 2021.

Key prudential and soundness ratios, including liquidity ratio of 35.7 per cent and capital adequacy of 15.9 per cent, continue to hold up to further prove the resilience of FCMB Group despite the challenging business and regulatory environment in the financial industry.

FCMB Group is the holding company for First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited, FCMB Microfinance Bank Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited, FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited.

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