FCMB Says Unaudited 2019 Profit up 18.4% to N17.72 Billion

Ladi Balogun, Chief Executive Officer, First City Monument Bank

February 3, 2020

By InvestAdvocate

Lagos (INVESTADVOCATE)-FCMB Group Plc said on Monday its unaudited  profit after tax (PAT) for the period ended December 31, 2019 rose 18.4 percent to N17.72 billion from N14.97 billion recorded a year ago.

Profit before tax (PBT) also grew 8.5 percent to N20 billion from N18.44 billion posted in the corresponding period of 2018.

Gross earnings of FCMB increased from N177.24 billion to N186.68 billion in the review period of 2019; indicating a rise of 5.3 percent, the financial HoldCo said in a filing with the Nigerian Stock Exchange (NSE).

Shares of FCMB at the close of Monday’s session on the Nigerian bourse depreciated  3.68 percent to N1.83 from N1.90 recorded the previous session; losing 0.07 kobo per share.

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