August 13, 2022

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INTERNET PROVIDER BLOG

FCMB group information 73.2% revenue progress of N15.4bn H1 2022


Lagos: July 28, 2022: For the six months ended June 30, 2022, FCMB Group Plc has reported better-than-impressive Earnings, Income, Deposits, Loans and Asset Underneath Administration progress, and spectacular environmental, social, and company governance scorecard.

The Group recorded a revenue earlier than tax of N15.4 billion, a 73.2% year-on-year progress in comparison with N8.9 billion in 2021 and double-digit progress throughout its enterprise segments: 84.2% within the Banking Group, 42.7% in Client Finance, 41.9% in Funding Administration, and 253.8% in Funding Banking.

Gross income was up 34% to N126.2 billion from January to June this 12 months, as towards N94.2 billion in H1, 2021. These have been the highlights of the Group’s unaudited half-year outcomes launched on the ground of the Nigerian Alternate Restricted (NGX) on Tuesday, July 26, 2022, in Lagos.

Commenting on the half-year monetary outcomes, the Group Chief Govt of FCMB Group Plc, Mr Ladi Balogun, mentioned:

“We proceed to leverage our distinctive group construction to allow a technology-driven ecosystem of platforms, clients, companions, skills, and capital to contribute to the sustainable and inclusive progress of the communities we serve. We consider that regardless of the difficult home and international atmosphere, FCMB Group is properly positioned to maintain its efficiency development in monetary and non-financial metrics”.

In compliance with its dedication to safeguarding the atmosphere, FCMB Group additional diminished its carbon footprint by transferring eight (8) branches of its retail and industrial banking subsidiary to Photo voltaic Energy. Thus, taking the variety of First Metropolis Monument Financial institution (FCMB) Restricted branches operating on renewable power to 150 (73% of its department community) – from grid/diesel mills to solar energy.

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Within the interval underneath assessment, the Financial institution disbursed over 442,000 loans, totalling N21.0 billion, to greater than 171,000 individuals through its digital channels within the first six months of 2022.