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FCMB grew post-tax profit by 55.81% to N32.59bn in 2022

Published

2 months ago

February 4, 2023

FCMB grew post-tax profit by 55.81% to N32.59bn in 2022

FCMB Group Plc posted an impressive financial performance in 2022, growing Profit after tax (PAT) by 55.81% to N32.59 billion, from N20.92 billion in the previous year.

It reported a 32.89% increase in gross earnings in its 2022 unaudited annual financial statement. Despite the increase in interest expense by 37.41% spurred by deposits from customers which grew by 77.42%, net interest income managed to grow by 32.44%, driven by the growth from investment securities at amortized cost, investment securities at FVOCI and loans & advances to customer, up by 67.14%, 89.19%, and 26.79% respectively.

. Basic earnings per share (in Naira) grew from N1.05 to N1.64, up by 56.19%. Total assets and total shareholders’ equity grew by 19.31% and 10.76% respectively.

FCMB reported an unclaimed dividend amounting to N1.7 billion. For shareholders’ that have not been receiving dividends, this is an opportunity to contact Cowry Asset Management Limited to assist in the process of claiming your dividends.