FCMB Group Plc has announced its financial results for the year ended December 31, 2021. The leading financial services organisation has been able to sustain impressive performance across several key areas despite the challenges of the business environment.
As a result, it declared a higher dividend of 20 Kobo per share to shareholders compared to 15 Kobo per share in 2020.
The result across market fundamentals shows an increased gross revenue of N212 billion, representing a 7% growth compared to N198.4 billion in 2020.
Also, a profit before tax of N22.7 billion from N21.9 billion the prior year while profit after tax also rose by 7% to N20.9 billion.
The financial results also showed enhanced customers confidence in FCMB, as deposits increased by 24% to N1.6trillion from N1.3trillion in the previous year. Loans and advances grew by 29% to N1.1trillion at the end of December 2021, as against N822.8 billion the previous year. In addition, the total assets of the Group rose by 21% toN2.5trillion.
FCMB Group’s Assets Under Management (AUM) also sustained its growth trajectory by rising to N525.8 billion in 2021, up by 6% from N495.2billion in 2020.
