FCMB Group Plc has released its unaudited six-month results, revealing a strong positive financial performance across key indicators.
During the period from January to June this year, the company experienced remarkable growth, reporting a 148% increase in profit before tax, which amounted to N38.2 billion.
This significant surge is in contrast to the N15.4 billion recorded during the corresponding period in 2022.
The diverse segments of the group demonstrated robust earnings growth during this period, with Banking Group showing an impressive 185.5% increase, Consumer Finance achieving 10.3% growth, Investment Management seeing a 53.3% rise, and Investment Banking experiencing a substantial 54.3% surge.
Furthermore, FCMB Group’s gross revenue for June 2023 witnessed remarkable growth, reaching N238.2 billion, which represents an 88.7% increase when compared to the N126.2 billion generated during the same period in the previous year.
This remarkable growth was largely driven by a 51.9% increase in interest income and a staggering 216.9% increase in non-interest income, showcasing the company’s strong performance and ability to capitalize on various opportunities in the financial market.
Commenting on the half-year financial results, the Group Chief Executive of FCMB Group Plc, Mr Ladi Balogun, said: “We continue to leverage our unique Group structure to build a technology-driven ecosystem that fosters inclusive and sustainable growth in the communities we serve.
“This strategy enables us to deliver robust performance despite the challenging domestic and global environment.
“Barring unforeseen circumstances, this trend will be sustained and accompanied by improving efficiencies arising from greater scale and ongoing digitization.”