✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

FCMB Group posts N4.8bn after tax in 2015

FCMB Group Plc (FCMB) has released its financials for the year ended December 31, 2015, reporting a profit before tax (PBT) of N7.8billion, while profit…

FCMB Group Plc (FCMB) has released its financials for the year ended December 31, 2015, reporting a profit before tax (PBT) of N7.8billion, while profit after tax stood at N4.8billion.
Following the profit, FCMB has recommended a dividend of 10 kobo per share to all shareholders.
The released audited result shows that FCMB’s revenue was up by 3 per cent to N152.5 billion in 2015, as against N148.6 billion in 2014.
However, net interest income decreased by 12 per cent Year-on-Year (YoY) to N63.9 billion, compared to N72.6 billion in the previous year. Fees and commissions rose by 10 per cent to N15.8 billion, driven by a strong surge in electronic banking income, offsetting the drop in commission on Turnover and Trade Finance fees. Other income dropped by 31 per cent to N8.8 billion due to a N4.8 billion reduction in foreign exchange gains. Total assets dropped marginally by 1 per cent to N1.16 trillion.
Commenting on the financial results, Managing Director of FCMB Group Plc, Mr. Peter Obaseki, said: “Full year 2015 result, came in with profit after tax of N4.8 billion; although underlying top-line and sustainable revenue momentum remains strong and in line with our strategic thrust’’.

VERIFIED: It is now possible to live in Nigeria and earn salary in US Dollars with premium domains, you can earn as much as $12,000 (₦18 Million).
Click here to start.