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
