FCMB Group Plc has reported better-than-impressive earnings, revenue, deposits, loans and Assets Under Management, recording a profit before tax of N15.4 billion, for the six months ended June 30, 2022.
The result is a 73.2% year-on-year growth compared to N8.9 billion in 2021, with double-digit growth across its business segments: 84.2% in the banking group, 42.7% in consumer finance, 41.9% in investment management, and 253.8% in investment banking.
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Gross revenue was up 34% to N126.2 billion from January to June this year, as against N94.2 billion in H1, 2021. These were the highlights of the group’s unaudited half-year results released on the floor of the Nigerian Exchange Limited (NGX) on Tuesday, July 26, 2022, in Lagos.
Commenting on the half-year financial results, the Group Chief Executive of FCMB Group Plc, Mr Ladi Balogun, said: “We continue to leverage our unique group structure to enable a technology-driven ecosystem of platforms, customers, partners, talents and capital to contribute to the sustainable and inclusive growth of the communities we serve.
“We believe that despite the challenging domestic and global environment, FCMB Group is well positioned to sustain its performance trend in financial and non-financial metrics”.
In the period under review, the bank disbursed over 442,000 loans, totalling N21.0 billion, to more than 171,000 persons via its digital channels in the first six months of 2022. It also gave loans to over 12,000 small businesses, totalling N93.4 billion disbursed through its digital channels in H1, 2022.
