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Home Industries Company News

RESULTS: FCMB Plc Post N16billion PAT, Declares 30kobo Dividends

Nairametrics by Nairametrics
March 28, 2014
in Company News
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FCMB Plc released its 2013 FY audited results showing a 12.6% rise in profit after tax. Highlights of the results are as follows;

  • Net interest income was N56.1billion a 29% rise from N43.3billion posted in 2012
  • Operating expenses rose 33% to N58.1billion (2012: N43.7billion)
  • Profit before tax was N18.1billion representing a 12.6% rise from N16.2billion posted in 2012
  • Profit after tax rose 5.8% to N16billion (2012: N15.1billion)
  • Loans and advances rose 26% to N450billion (2012: N357.7billion)
  • Customer deposits rose 10% to N715billion (2012: N646billion)
  • Cost to income ratio by our estimates was 69% in 2013 compared to 60% posted in 2012
  • Return on equity was 11.6% compared to 12% posted a year earlier

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