FCMB Group plc has posted a revenue of N48.3 billion for the third quarter of 2020 (Q3, 2020), as Year-To-Date earnings appreciates by +7.8% to hit N146.43 billion as at September 2020.

This is according to the latest financials of the group sent to the Nigerian Stock Exchange Market today.

Key highlights of Q3 2020 results are:

• Gross earnings increased to N48.3billion, +4.8% Y-o-Y.
• Pre-tax profit increased to N4.8billion, +10.2% Y-o-Y.
• Profit After Tax (PAT) grew to N4.2billion, +16.4% Y-o-Y.
• Net interest income grew to N22.7billion, +30.03% Y-o-Y.
• Net fee and commission income increased to N5.2billion, +0.29% Y-o-Y.
• Net trading income grew to N1.82billion, +39.4% Y-o-Y.
• Personnel expenses declined to N6.9billion, -7.9% Y-o-Y.
• General and administrative expenses declined to N7.6billion, -7.52% Y-o-Y.
• Earning Per Share increased to N0.21, +16.7% Y-o-Y.
• Between December 2019 and September 2020, loans and advances to customers grew to N793.14 billion, +10.8%
• Total assets between the period under view also grew to N2.04 trillion, +22.12%
• Deposits from customers between December 2019 and September 2020 crossed the trillion mark, as it hits N1.2 trillion, indicating a gain of +26.7% within the period under view.

Bottom Line

The bank posted impressive growth across key financial metrics, with major income yielding components increasing over time, coupled with a drastic reduction in expenditure items. This reflected in the growth recorded both in the pre and post tax profit levels.

Unity Bank Plc has posted a gross earning of N11.04 billion in Q3 2020 -3% increase, according to its latest financials.

Some key highlights of the Q3 2020 financials of the bank are;

• Profit After Tax increased to N543.14 million, +6% Y-o-Y.
• Pre-tax profit increased to N590.4 million, +6% Y-o-Y.
• Total operating income increased to N5.8 billion, +4% Y-o-Y.
• Net interest income declined to N3.6 billion, -3% Y-o-Y
• Total operating expenses increased to N5.3 billion, +10% Y-o-Y
• Personnel expenses increased to N2.62 billion, +9% Y-o-Y.
• Between December 2019 and September 2020, net loans and advances to customers increased to N131.85 billion, +27% Y-o-Y.
• Total assets also grew to N420.9 billion, up by +44% in 2020 9M.
• Cash and balances with the Central Bank of Nigeria, also increased to N98.8billion, up by +596%, 2020 9M.

Bottom Line

The increase in income components such as net fee and commission income and net trading income (which grew by 176%) boosted the profit of the firm within the period under view.

Zenith Bank Plc has recorded an impressive Profit Before Tax of N177.3 billion for the period ended September 30, 2020.

This is according to its latest financials sent to the Nigerian Stock Exchange Market.

Key highlights of the 9M 2020 results are:

• Gross earnings increased to N508.97 billion, +3.6% Y-o-Y.
• Profit Before Tax grew to N177.3 billion, +0.6% Y-o-Y.
• Net interest income increased to N225.18 billion, +4.91% Y-o-Y.
• Impairment charges grew to N25.11 billion, +37.5% Y-o-Y.
• Personnel expenses increased to N59.93 billion, +5% Y-o-Y.
• Loans and advances to customers grew to N2.7 trillion, Up by +32.7% Y-o-Y.
• Total assets increased to N7.97 trillion, +33.4% Y-o-Y.
• Customers deposit grew to N5.2 trillion, +32.2% Y-o-Y.
• Earnings Per Share boosted to N5.07k, +5.6% Y-o-Y.

Bottom Line:

The firm performed well in most of its key financial metrics, recording an impressive figure across board. The impressive performance was reflected in its Cost-to-Income ratio which stood at 37.3%, far below the 50% threshold, indicating that the firm has been very efficient in its operations.