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FCMB Reports N94.2Bn Revenue, 9.4% PBT Growth In H1 2021

The FCMB Group Plc has released its unaudited interim earnings report for the first half of 2021, which reflected a gross revenue of N94.2 billion and profit before tax (PBT) of N8.9 billion.

The group, in a statement issued on its financial performance during the period in review , reported an increase in its non-interest income increased to N17.9 billion from N17.5 billion from the recorded non-interest income in the corresponding period of 2020.

This is even as its loans and advances grew by 15 per cent year-on-year and three per cent quarter-on-quarter to N916.7 billion.

The group further stated: “Customer confidence in FCMB remained strong, as deposits were up by 21 per cent YoY and one per cent QoQ to N1.3 trillion within the six months of this year, while total assets increased by 14 per cent YoY and four per cent QoQ to N2.24 trillion.

“Moreover, Assets Under Management (AUM) grew impressively by 10 per cent year-on-year to N500 billion in June 2021”, it added.

In addition, it disclosed that key prudential and soundness ratios, including liquidity ratio of 35.7 per cent and capital adequacy of 15.9 per cent continued 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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