ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Wednesday, January 20, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
FCMB used to illustrate the story. [Photo credit: Eagle Construction Limited ECL Abuja]

FCMB used to illustrate the story. [Photo credit: Eagle Construction Limited ECL Abuja]

FCMB Group records increased revenue, profit in 2019

byPress Release
April 3, 2020
2 min read
ADVERTISEMENT

FCMB Group Plc has announced its financial results for the year ended December 31, 2019.

The audited results showed that the Group’s gross revenue increased to N188 billion compared to N177.2billion in 2018. The strong performance also manifested in profit before tax, which rose by 9 per cent to N20.1 billion.

Following this, the financial institution has declared a dividend of 14 kobo per share to shareholders.

FCMB Group is holding company divided along three business groups.

These include Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited) as well as Asset & Wealth Management (FCMB Pensions Limited, FCMB Asset Management Limited and CSL Trustees Limited).

The bank also reported appreciable growth in key operating areas going by the audited results.

The financial results also showed that net interest income increased by 5 per cent Year-on-Year (YoY) to N76 billion for the twelve months of 2019 from N72.6 billion within the same period in 2018.

READ ALSO: CBN cautions FG on debt accumulation

In demonstration of enhanced customers confidence in FCMB, deposits grew to N943.1 billion in December 2019, as against N863.4 billion in September 2019.

Loans and advances disbursed by the Group as at the end of December 2019 stood at N715.9 billion, representing a rise of 12 per cent (Quarter-on-Quarter, QoQ), compared to N638.1 billion in September 2019.

RelatedNews

COVID-19: Nigeria records 15 deaths, 1,301 new cases Tuesday

Police confirm release of abducted Adamawa traditional ruler

INVESTIGATION: Superstition, ill-equipped PHCs threaten Yellow fever vaccination in Enugu, Delta (1)

Girl jumps down two-storey building to evade punishment- NSCDC

Moreover, total assets of the Group went up by 10% QoQ to N1.67 trillion in December 2019 from N1.52 trillion in September 2019, just as capital adequacy ratio stood at 17.17 per cent which is above the benchmark set by the Central Bank of Nigeria.

Commenting on the overall performance, FCMB Group stated that:

“Post-tax profits increased by 16% to N17.3 billion, this translates to a return on average equity (RoAE) of 9% and earnings per share of 87.2 kobo, an improvement on 8.1% and 75.2 kobo, respectively, in 2018”.

Dangote adbanner 728x90_2 (1)

It added that:

“Our businesses continue to improve with growth in other key indicators, such as loans and advances, deposits and assets under management (AUM), which grew by 13.1%, 14.8% and 28.3%, respectively. Our customer base also grew by 27.7% across the Group from 5.3 million to 6.8 million. Overall, customer satisfaction has shown positive trends, with a net promoter score of 31 in banking and 23 in asset management. Asset quality has continued to improve, with the Group-wide NPL ratio coming down to 3.7% from 5.9%. Similarly, capital adequacy ratio has remained stable at 17.2% for our Commercial and Retail Banking Group.”

FCMB Group is a frontline financial services institution in Nigeria with subsidiaries that are market leaders in their respective segments. FCMB has continued to distinguish itself through innovation and delivery of exceptional offerings.

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (0)
premiumtimes



PT Mag Campaign AD

Previous Post

Coronavirus: Lagos govt building more isolation centres – Commissioner

Next Post

Coronavirus: How Nigerian nurses, midwives are being treated at isolation centres

Press Release

Press Release

More News

A man is being tested for COVID-19 in Nigeria [PHOTO: TW: @NCDCgov]

COVID-19: Nigeria records 15 deaths, 1,301 new cases Tuesday

January 20, 2021
Traditional Ruler

Police confirm release of abducted Adamawa traditional ruler

January 20, 2021
President Donald Trump [PHOTO CREDIT: washingtonexaminer.com]

U.S. actors union to decide whether to expel Trump

January 20, 2021
Yellow vaccines

INVESTIGATION: Superstition, ill-equipped PHCs threaten Yellow fever vaccination in Enugu, Delta (1)

January 20, 2021
Civil defence officials used to illustrate the story

Girl jumps down two-storey building to evade punishment- NSCDC

January 20, 2021
COVID-19: Coronavirus Test Sample

Britain records ‘highest coronavirus death rate’ worldwide- Report

January 19, 2021
Next Post
FILE: A nurse checks the blood pressure of a patient at National Hospital Abuja

Coronavirus: How Nigerian nurses, midwives are being treated at isolation centres

Buhari’s aide fumes as another Nigerian is killed in South Africa

COVID-19: Nigeria to evacuate stranded citizens abroad

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad




Advertisement






netherland biz school Advert

Zenith Advert

Heritage Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps Address Nationwide
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.