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Home Business News

FCMB profit up 9.2% surges to N20 billion

Olumide Adesina by Olumide Adesina
March 31, 2020
in Business News, Company News
FCMB Group notifies investors on Q3 results delay, FCMB profits decline by 4.84% in 9 months, FCMB Nigeria’s evening of investment talks with Ugodre, FCMB replaces KPMG with Deloitte as its new auditor, FCMB profit up 9.2% surges to N20 billion
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FCMB Group Plc. on Tuesday released its full-year 2019 results after today’s trading hours. Here are the highlights of the results:

Gross Earnings

Gross Earnings was N181billion from N177 billion recorded in 2018. This amounts to a 2.3% increase year on year.

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Profit before tax

Profit before tax jumped to N20 billion in 2019. This amounts to a 9.2% increase year on year.

(READ MORE: COVID-19: FCMB reschedule operations)

Profit after tax

Profit after tax also increased to N17 billion in 2019. This amounts to a 15.8% increase year on year.

Net Assets

Net Assets increased to N201 billion in 2019 from N183 billion in 2018. This amounts to a 9.4% increase year on year.

First City Monument Bank is a large financial services provider in Nigeria, offering retail banking, corporate banking, and investment banking services to large corporations, small and medium enterprises, as well as individuals 


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Tags: FCMB Group Plc
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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  1. ishaq says:
    November 1, 2021 at 9:33 pm

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