Source: http://234next.com/csp/cms/sites/Next/Money/Finance/5696357-147/city_monument_bank_records_first_quarter.csp

First City Monument Bank (FCMB) has announced its first quarter unaudited results for the three-month period ended March 31, 2011, with a profit before tax (PBT) of N3.4billion, and continued improvement across all major performance indicators.

According to a statement by the bank on Thursday, the Group profit before tax for the three months ended March 31, 2011 grew by 204 percent to N3.4billion from N1.1billion for the same period in the previous financial year.

“Loan quality improved in the first quarter with the non-performing loan ratio falling to 5.2 percent from 8 percent as at March 2010 and 5.5 percent as at 31 December 2010.” FCMB’s Group Managing Director, Ladi Balogun assured that barring any unforeseen circumstances, performance indices would continue to improve during the course of the financial year.

Frankly, am not surprised. The FCMB has been showing continuous growth and improvement and it's all because of Mr. Ladi Balogun's stewardship! He's the brains behind all these progress at both FCMB and City Monument Bank!

In salute to Ladi's outstanding skills as a businessman and as a person.

I agree with you on your appraisal of Mr. Ladi Balogun. He is an upstanding citizen and a great businessman. I would say that he engineered FCMB's growth from the day he started working as a Managing Director there.

Great work Mr. Ladi Balogun and FCMB!