FCMB Group Plc has announced a gross revenue of N94.2bn and a profit before tax of N8.9bn for the first half of 2021.

FCMB Group is the holding company for First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited, FCMB Microfinance Bank Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited, FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited.

According to a statement from the group, its non-interest income increased to N17.9bn from N17.5bn in the corresponding period of 2020.

Loans and advances grew by 15 per cent year-on-year and three per cent quarter-on-quarter to N916.7bn in June 2021.

See also  FCMB announces N94.2bn revenue, PBT rise by 9.4%

The group said, “Customer confidence in FCMB remained strong, as deposits were up by 21 per cent YoY and one per cent QoQ to N1.3tn within the six months of this year, while total assets increased by 14 per cent YoY and four per cent QoQ to N2.24tn.

“Moreover, assets under management grew impressively by 10 per cent year-on-year to N500bn in June 2021. Key prudential and soundness ratios, including liquidity ratio of 35.7 per cent and capital adequacy of 15.9 per cent, continue to hold up to further prove the resilience of FCMB Group despite the challenging business and regulatory environment in the financial industry.”

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  93. I have been bearish on Bitcoin (BTC-USD) since my article in October of 2021 when I saw the risk of regulation coming amongst other threats. Investors have cheered the January rally in Bitcoin but it is technical in nature and nothing has changed fundamentally in the world’s largest cryptocurrency. Charles Gasparino, a senior correspondent for Fox News, offered his perspective on the SEC’s (Securities and Exchange Commission) recent crackdown… Get the daily newsletter that helps thousands of investors understand the markets. While the meme’s origin is unclear, according to CoinTelegraph, many backers initially pledged not to change their photos back until Bitcoin hit $100,000. Bitcoin is currently trading at $16,000, its lowest level in two years, and most original laser eye photos have now disappeared from Twitter.
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