FCMB Group Plc has released its financial results for the year ended December 31, 2018.
- Gross revenue of N177.4 billion, an increase of 4.3% compared to the N169.9 billion for the same period in 2017.
- Profit before tax (PBT) rose by 73% to N18.4 billion as against N11.5 billion in the preceding year.
- The financial institution has recommended a dividend of 14 kobo per share to shareholders.
- FCNB Group Net interest income as at the end of 2018 rose by 3% Year-on-Year (YoY) to N72.6 billion. Deposit increased by 19% YoY to N821.7 billion from N689.9 billion.
- Loans and advances stood at N633 billion a YoY drop of 2.5% from 2017 figure of N649.8 billion
- Total assets went up by 21% YoY to N1.43 trillion, just as capital adequacy ratio was 15.9%.
Total asset of FCMB increased by 22.4% over the last five year. 2018 growth alone is 21%
Customer deposit declined steadily from 2014 to 2016, grew marginally in 2017 but significantly in 2018. 12% five year growth is significant for a tier 2 lender.
Loans and advance grew by 2.6% over the 5 year period, although it dropped (in line with the industry drop in customer loans in 2018) by a margin of N16.7 billion between 2017 and 2018.
FCMB Shareholder fund increased by 14.3% between 2014 and 2018.