First City Monument Bank Plc projects profit after tax of N3.4 billion in Q3 2021.

First City Monument Bank Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).

  • Gross earnings were projected to hit N45.9 billion.
  • Net interest income was projected at N21.44 billion.
  • Net operating income projection of N30.72 billion.
  •  Operating expenses were projected at N23.8 billion.
  • Tax projections of N415.51 million
  • Profit after tax is projected at N3.4 billion.

See link to forecasts.

 

FCMB Group Plc appoints Muibat Ijaiya as Director.

First City Monument Bank (FCMB) Group Plc has announced the appointment of Ms. Muibat I. Ijaiya into its board as an Independent Non-Executive Director, following the obtaining of a regulatory approval from the Central Bank of Nigeria.

The Group in a notice signed by its secretary, Olufunmilayo Adedibu expressed confidence in the abilities of the newly appointed Director, given her wealth of experience and profile. An excerpts of the notice read: ‘’ Muibat continues to work in advancing the science of strategy execution, particularly for organizations in complex industries and public institutions focused on transforming key sectors, and the Board is assured that her wealth of experience would be of great impact to the FCMB Group.’

Profile

Muibat Ijaiya is a Strategy Development and Execution expert with over 19 years of consulting and advisory experience. Prior to her appointment, she was a partner at Strategy Management Partners. She had also worked for various reputable firms such as Ernst and Young (UK), Palladium Group (UK and Middle East) among others.

She is an alumna of University of Surrey and Warwick Business School where she obtained BSc and MSc degrees respectively. She also holds an MBA from the University of Manchester.

For more information about her appointment, click HERE.

FCMB Plc profit decline by 24% to N3.57billion in Q1 2021.

FCMB Group Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income for the period was N21.23 billion. (-8.2% YoY)
  • Net fee and commission income was N5.7 billion. (+12.05% YoY)
  • General and administrative expenses of N8.04 billion. (-0.2% YoY)
  • Profit for the period was N3.57 billion. (-24.4% YoY)
  • Earnings per share of 18 kobo Vs 24 kobo YoY.

See link to results.

2020 FY Results: FCMB posts profit after tax of N19.6 billion.

FCMB Group Plc released its audited full-year results for the year ended 31st December 2020.

  • Net interest income was N90.76billion. (+19.45% YoY)
  • Net fee and commission income was N19.6 billion. (-5.6% YoY)
  • Personnel expenses was N29.52billion (-0.3% YoY)
  • Profit for the year was N19.6billion. (+13.1% YoY)
  • Earnings per share was 98 kobo(+12.6% YoY)
  • A dividend of 15kobo was proposed by the Board of Directors.

See link to results.