FCMB released its Q1 results showing a Net Interest income of N16.3billion a 25% increase from N13.1billion posted a year earlier. Pre-tax profits was N5.5billion 15% higher than the N4.8billion posted a year earlier.
Key take outs
- Much improved Interest margin – 59%
- Better cost to income ratio
- ROA and ROAE still low
- Loan losses still high
- Loans as a percentage of deposits increased this quarter and crossed the 70% band
Mr Ugo, let me commend you for your wonderful work & your educative site, well done. Yes, i think that fcmb should be doing better than b4, looking at the level of resources at their desposal after taking over first inland bank. On the part of Red star, the firm is doing well, it has been paying dividend regularly for some yrs now, in fact am going to look into their books more to be able to an informed investment decision. pls sir tell what you think about Red Star. thanks
Red Star is a stock I like. It’s in my portfolio