FCMB Group Plc has again demonstrated its resilience by reporting a profit before tax (PBT) of N16.3 billion for the full-year ended December 31, 2016, an increase of 109% compared to the N7.8 billion for the same period in 2015. Profit after tax also rose to N14.3 billion as against N4.8 billion prior year.

Following these, the financial institution has recommended a dividend of 10 kobo per share to shareholders.


FCMB Group which is the holding company of First City Monument Bank (FCMB) Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited and CSL Trustees Limited, also reported a number of appreciable growths in key operating areas going by the audited results. Gross revenue as at the end of December 2016 was up by 16% to N176.35 billion from N152.51 billion in the previous year. This was in spite of the challenging macroeconomic environment and other regulatory factors.


Non-interest income grew to N47.7 billion, an 86% Year-on-Year (YoY) increase, as against N25.6 billion in 2015. This was mainly driven by N29.3 billion in foreign exchange revaluation gains.



Consistent with its value as a helpful financial institution committed to the growth of individual and business aspirations, the FCMB Group results showed an increase in credits advanced to customers last year. Loans and advances rose by 11% from N593 billion in 2015 to N660 billion in 2016. Total assets increased marginally by 1% from N1.16 trillion to N1.17trillion.

In addition, operating expenses decreased by 2% to N65.8 billion, just as non-performing loans to total loans ratio declined from 4.2% in 2015 to 3.7% in 2016. The Group’s capital adequacy ratio stood at 16.7%. However, customer deposits reduced to N658 billion from N700 billion.

First City Monument Bank (FCMB) Limited, the flagship of FCMB Group Plc and the commercial and retail banking arm of the holding company, also sustained its impressive performance over the years. The financial results show that the bank’s net interest income grew by 9% (YoY) from N62.8 billion in 2015 to N68.6 billion in 2016.


http://www.lailasblog.com/2017/03/fcmbs-profit-rises-by-109-to-n162bn-in.html

Worst bank


Wonder how they made such profit.




Probably cos of there paint

Buhari continue your good works we love u.

Good news everywhere

Forex sales naaa

tolugar:
Worst bank


Wonder how they made such profit.




Probably cos of there paint

Of course it's forex. How many entrepreneurs have they granted loans to grow the economy? Probably 0.001%

109% profit indeed.

Paper profits. Profit without growth.

Of course, it would rise . . when you buy dollar from CBN at 315 or less and
sell to us at 410 . . and even as of today 407

Satan punish FCMB !!!

10 kobo?





The stock price will start plummeting very soon.

10k is too small. haba!!!

14.3 Billion na why we no go hear word.

That this is a 109% increase should be worrying.

I hate this bank with passion

fuckboys:
I hate this bank with passion

Best bank when it comes to importation business

Were dey part of the Banks collecting Dollars from CBN, failed to sell to genuine Dollar users and sold it at exorbitant prices to the BDC against CBN instructions during Naira crises

I'm not sure....I'm just thinking that could be part of the reason they made profit when there is economic recession

GOODNEWS TO SHAREHOLDER,AM WORRIED WHILE THE REAL SECTOR OF THE ECONOMY ARE NOT MAKING PROFIT. NO DOUBT WE NEED A SOUND ECONOMY GROUP.
THANK YOU .

I bought shares at old "FIN BANK",i think it was 2008/09.i have my shares certificate.but i didn't follow up on anything again.is FINBANK todays FCMB?

Interesting

who else thought 10000

O

ALEXIS0240:
I bought shares at old "FIN BANK",i think it was 2008/09.i have my shares certificate.but i didn't follow up on anything again.is FINBANK todays FCMB?

My brother use the certificate and fan your self

ernie4life:
O
My brother use the certificate and fan your self

LOL .

ernie4life:
O
My brother use the certificate and fan your self

lol....

bettercreature:
Best bank when it comes to importation business

Sorry how do you mean?
Please explain

tolugar:
Worst bank


Wonder how they made such profit.




Probably cos of there paint

Pained soul

ALEXIS0240:
I bought shares at old "FIN BANK",i think it was 2008/09.i have my shares certificate.but i didn't follow up on anything again.is FINBANK todays FCMB?

Yeah FCMB bought Finbank's Licence

PapaNnamdi:
Fcmb shareholders Ryt now,

baba dis ur broda teeth ehn, is brighter than his future. (na joke o)

Fcmb is a hopeless bank. Just to get my Deed released after liquidation of my loan has taken over 3months and till this morning their legal department at Primerose House, is still frustrating my efforts.

I will ask my lawyer to write to them if I don't get that document before COB this Friday. Hopeless scumbags.

tecboss:
Fcmb is a hopeless bank. Just to get my Deed released after liquidation of my loan has taken over 3months and till this morning their legal department at Primerose House, is still frustrating my efforts.

I will ask my lawyer to write to them if I don't get that document before COB this Friday. Hopeless scumbags.

Calm down. You're fortunate: at least you even got a loan to liquidate!

Cheers

That's good.

After sacking all those that worked for them they declared profit with the sweat of men and women. Let's see how it goes.

Intercontinental posted more profit than this. I went to this bank the other day and did not meet a single customer. This is a case of book cooking. not book keeping anymore.

Do you know that with banks using finacle, all accounts in debit automatically add up to the income account, including bad loans on debit interest.?

nawaoooo, if you have 1million shares with them, you go earn 100k. nawaoooo, if you have 1million shares with them, you go earn 100k.

what is even market value of their shares?

sunpass:
Yeah FCMB bought Finbank's Licence

Thank you my brother.