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Nairaland Forum / Nairaland / General / Business / Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend (8760 Views)
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Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by Nobody: 4:19pm On Mar 29, 2017 |
FCMB Group Plc has again demonstrated its resilience by reporting a profit before tax (PBT) of N16.3 billion for the full-year ended December 31, 2016, an increase of 109% compared to the N7.8 billion for the same period in 2015. Profit after tax also rose to N14.3 billion as against N4.8 billion prior year. Following these, the financial institution has recommended a dividend of 10 kobo per share to shareholders. FCMB Group which is the holding company of First City Monument Bank (FCMB) Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited and CSL Trustees Limited, also reported a number of appreciable growths in key operating areas going by the audited results. Gross revenue as at the end of December 2016 was up by 16% to N176.35 billion from N152.51 billion in the previous year. This was in spite of the challenging macroeconomic environment and other regulatory factors. Non-interest income grew to N47.7 billion, an 86% Year-on-Year (YoY) increase, as against N25.6 billion in 2015. This was mainly driven by N29.3 billion in foreign exchange revaluation gains. Consistent with its value as a helpful financial institution committed to the growth of individual and business aspirations, the FCMB Group results showed an increase in credits advanced to customers last year. Loans and advances rose by 11% from N593 billion in 2015 to N660 billion in 2016. Total assets increased marginally by 1% from N1.16 trillion to N1.17trillion. In addition, operating expenses decreased by 2% to N65.8 billion, just as non-performing loans to total loans ratio declined from 4.2% in 2015 to 3.7% in 2016. The Group’s capital adequacy ratio stood at 16.7%. However, customer deposits reduced to N658 billion from N700 billion. First City Monument Bank (FCMB) Limited, the flagship of FCMB Group Plc and the commercial and retail banking arm of the holding company, also sustained its impressive performance over the years. The financial results show that the bank’s net interest income grew by 9% (YoY) from N62.8 billion in 2015 to N68.6 billion in 2016. http://www.lailasblog.com/2017/03/fcmbs-profit-rises-by-109-to-n162bn-in.html
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Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by tolugar: 4:34pm On Mar 29, 2017 |
Worst bank Wonder how they made such profit. Probably cos of there paint 2 Likes |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by Nobody: 6:24pm On Mar 29, 2017 |
Buhari continue your good works we love u. Good news everywhere 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by bigtt76(f): 6:25pm On Mar 29, 2017 |
7 Likes |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by eph123(f): 6:26pm On Mar 29, 2017 |
Of course it's forex. How many entrepreneurs have they granted loans to grow the economy? Probably 0.001% 109% profit indeed. Paper profits. Profit without growth. 11 Likes |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by admax(m): 6:26pm On Mar 29, 2017 |
That was how Oceanic and Intercontinental bank were publishing profits upandan before they went under. Nigeria banks are jokers until they start funding investments in Agriculture and Power industry and reduce their ridiculous 18% - 25% interest rate! 10 Likes |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by makavele: 6:27pm On Mar 29, 2017 |
Of course, it would rise . . when you buy dollar from CBN at 315 or less and sell to us at 410 . . and even as of today 407 Satan punish FCMB !!! ![]() ![]() ![]() 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by richie9093(m): 6:27pm On Mar 29, 2017 |
10 kobo? ![]() ![]() ![]() The stock price will start plummeting very soon. 10k is too small. haba!!! |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by TheRealAdonye(m): 6:27pm On Mar 29, 2017 |
14.3 Billion na why we no go hear word. That this is a 109% increase should be worrying. |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by fuckboys: 6:28pm On Mar 29, 2017 |
I hate this bank with passion |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by bettercreature(m): 6:30pm On Mar 29, 2017 |
fuckboys:Best bank when it comes to importation business 2 Likes |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by adioolayi(m): 6:31pm On Mar 29, 2017 |
Were dey part of the Banks collecting Dollars from CBN, failed to sell to genuine Dollar users and sold it at exorbitant prices to the BDC against CBN instructions during Naira crises ![]() I'm not sure....I'm just thinking that could be part of the reason they made profit when there is economic recession 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by TenPassfour(m): 6:32pm On Mar 29, 2017 |
GOODNEWS TO SHAREHOLDER,AM WORRIED WHILE THE REAL SECTOR OF THE ECONOMY ARE NOT MAKING PROFIT. NO DOUBT WE NEED A SOUND ECONOMY GROUP. THANK YOU . |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by ALEXIS0240: 6:33pm On Mar 29, 2017 |
I bought shares at old "FIN BANK",i think it was 2008/09.i have my shares certificate.but i didn't follow up on anything again.is FINBANK todays FCMB? |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by tivta(m): 6:36pm On Mar 29, 2017 |
Interesting |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by buffalowings: 6:37pm On Mar 29, 2017 |
who else thought 10000 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by ernie4life(m): 6:43pm On Mar 29, 2017 |
O ALEXIS0240: My brother use the certificate and fan your self 14 Likes 1 Share |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by YOUNGKAHUNA: 6:51pm On Mar 29, 2017 |
1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by ALEXIS0240: 6:55pm On Mar 29, 2017 |
ernie4life:lol.... 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by AndyCole16(m): 7:11pm On Mar 29, 2017 |
bettercreature:Sorry how do you mean? Please explain |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by Tobycharles: 7:16pm On Mar 29, 2017 |
tolugar:Pained soul |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by sunpass(m): 7:35pm On Mar 29, 2017 |
ALEXIS0240:Yeah FCMB bought Finbank's Licence 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by Frankaka8(m): 8:00pm On Mar 29, 2017 |
PapaNnamdi:baba dis ur broda teeth ehn, is brighter than his future. (na joke o) ![]() ![]() |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by tecboss: 8:10pm On Mar 29, 2017 |
Fcmb is a hopeless bank. Just to get my Deed released after liquidation of my loan has taken over 3months and till this morning their legal department at Primerose House, is still frustrating my efforts. I will ask my lawyer to write to them if I don't get that document before COB this Friday. Hopeless scumbags. |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by Nobody: 8:12pm On Mar 29, 2017 |
tecboss: Calm down. You're fortunate: at least you even got a loan to liquidate! Cheers |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by Lanre4uonly(m): 8:23pm On Mar 29, 2017 |
That's good. |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by kgr8mike(m): 8:48pm On Mar 29, 2017 |
After sacking all those that worked for them they declared profit with the sweat of men and women. Let's see how it goes. |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by ochallo: 8:48pm On Mar 29, 2017 |
Intercontinental posted more profit than this. I went to this bank the other day and did not meet a single customer. This is a case of book cooking. not book keeping anymore. Do you know that with banks using finacle, all accounts in debit automatically add up to the income account, including bad loans on debit interest.? 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by T4kbaba(m): 8:49pm On Mar 29, 2017 |
nawaoooo, if you have 1million shares with them, you go earn 100k. ![]() what is even market value of their shares? 1 Like |
Re: Fcmb’s Profit Rises By 109% To N16.3bn In 2016, Declares 10k Dividend by ALEXIS0240: 8:51pm On Mar 29, 2017 |
sunpass:Thank you my brother. |
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