FCMB Group posts 73.2% profit, leverages renewable energy

The FCMB Group Plc has declared a 73.2 per cent growth in profit for the six months ended June 30, 2022.

A statement said the bank recorded a profit before tax of N15.4bn, an equivalent of 73.2per cent year-on-year growth compared to N8.9bn in 2021. It also recorded 84.2per cent in the Banking Group, 42.7per cent in Consumer Finance, 41.9per cent in Investment Management, and 253.8per cent in investment banking.

The statement said the FCMB’s Gross revenue was up by 34 per cent to N126.2bn from January to June this year, as against N94.2bn in H1, 2021.

It noted that these were the highlights of the group’s unaudited half-year results released on the floor of the Nigerian Exchange Limited on Tuesday, July 26, 2022, in Lagos.

Speaking on the positive half-year financial results, the Group Chief Executive FCMB Group Plc, Mr Ladi Balogun, said the bank would continue leveraging its technology ecosystem.

He 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.”

The FCMB said to safeguard the environment, it further reduced its carbon footprint by moving eight branches of its retail and commercial banking subsidiary to solar power


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