• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

FCMB Group Announces N170bn Gross Revenue

NM Partners by NM Partners
April 6, 2018
in Company News, Corporate Updates
Ladi Balogun - nairametrics

Ladi Balogun, Group CEO FCMB. Source: Guardian

Share on FacebookShare on TwitterShare on Linkedin

FCMB| Lagos: April 5, 2018: FCMB Group Plc has released its financial results for the year ended December 31, 2017, reporting a gross revenue ofN169.9 billion. Going by the audited results, the Group recorded a profit before tax (PBT) of N11.5billion, while profit after tax (PAT) was N9.4billion.

And in a demonstration of the enhanced confidence of customers in FCMB, deposits grew to N689.9billion as at the end of December 2017, an increase of 5%, from N657.6billion in the corresponding year.  The Group’s capital adequacy ratio also improved to 16.9% from 16.7%, just as asset base increased to N1.19trillion, compared to N1.17trillion at the end of 2016. Non-interest income as at the end of 2017 was N32billion, while loans and advances stood at N649.8billion.

In a statement, the FCMB Group said that

RelatedStories

MD FCMB, Mrs. Yemisi Edun

FCMB reassures investors on forbearance loans, outlines plan to sustain dividends

June 17, 2025
FCMB

FCMB Group reports pre-tax profit of N111.8 billion as interest and operating income surge 

April 4, 2025

“in spite of the reduction in the headline numbers, the Group’s performance for the year 2017 witnessed an improvement in core operating performance over the previous year after adjusting for the significant foreign exchange revaluation income enjoyed in 2016. In line with the repositioning strategy of the Group for better performance, the key drivers of the performance include an increase in income from our non-banking activities, lower impairment charges from the Bank and its subsidiaries, and improved operating efficiencies through more pervasive use of technology’’.

In November 2017, FCMB completed the acquisition of an additional 60% stake in Legacy Pension Managers Limited, which increased FCMB’s stake from 28.2% to 88.2%, thereby making Legacy a subsidiary of FCMB. The acquisition helps achieve further diversification of service offerings and, consequently, earnings within the FCMB Group, which will be felt from the 2018 financial year.

FCMB Microfinance Bank Limited, the Group’s dedicated group lending, and financial inclusion vehicle commenced operations as a state microfinance bank in January 2017. The business will be the key driver of FCMB’s informal and agricultural sectors (particularly small-holder farmers) drive across the country. These two sectors account for over 40% of the country’s gross domestic product (GDP).

Following these developments, FCMB Group Plc’s operating companies are now divided along three business groups – Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); and Asset & Wealth Management (Legacy Pension Managers Limited, First City Asset Management Limited and CSL Trustees Limited).

The financial institution assured that, “barring any unforeseen circumstances, we see improved operating performance in 2018 based on the improving macro-economic and capital markets environment, declining cost of funds for the bank, and the growing contributions of asset and wealth management following last year’s acquisitions’’.

 

 

 

 

 

 

 

 

 

 

Tags: 2017 FY resultsFCMB Group PlcOn the Money
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

MD FCMB, Mrs. Yemisi Edun
Bank Recapitalization

FCMB reassures investors on forbearance loans, outlines plan to sustain dividends

June 17, 2025
FCMB
Company Results

FCMB Group reports pre-tax profit of N111.8 billion as interest and operating income surge 

April 4, 2025
FCMB
Company News

FCMB Group reports N117.2 billion pre-tax profit as gross earnings jump 53.9% in 2024 

January 31, 2025
FCMB
Bank Recapitalization

FCMB Group Plc seeks board approval to raise N340 billion at December AGM, alongside other key resolutions 

November 28, 2024
FCMB
Bank Recapitalization

FCMB completes first phase of capital raise as NGX Invest platform enables 40,000 investors  

September 12, 2024
Credit Direct announces upgrade in credit rating, payout of series I and II commercial paper
Companies

Credit Direct announces upgrade in credit rating, payout of series I and II commercial paper

August 8, 2024
Next Post
Asoko Insights raises $3.6 million in series A funding round

Asoko Insights raises $3.6 million in series A funding round

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

otd
access bank
nairametrics
Emple
Palmpay
first bank








DUNS

Recent News

  • OPEC+ moves to boost oil output by additional 137,000bpd in October 2025 – Report 
  • Oil marketers to shut down operations from September 8 over job threats, alleged monopoly
  • The Electricity Act Amendment Bill 2025 – the need for a cautious rethink

Follow us on social media:

Recent News

OPEC+ to raise oil output by 547,000 bpd in September as market stabilizes  

OPEC+ moves to boost oil output by additional 137,000bpd in October 2025 – Report 

September 6, 2025
NMDPRA bans 60,000-litre fuel tankers from depots to curb accidents  

Oil marketers to shut down operations from September 8 over job threats, alleged monopoly

September 6, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics