FCMB declares N5bn dividend for shareholders

The FCMB Group Plc has announced that its shareholders will be paid N5 billion as dividends on their investment for the financial year ended December 31, 2022. The announcement was made in a statement yesterday following shareholders’ approval at the group’s 10th Annual General Meeting held physically and virtually in Lagos recently. FCMB Group’s performance […]

The FCMB Group Plc has announced that its shareholders will be paid N5 billion as dividends on their investment for the financial year ended December 31, 2022.

The announcement was made in a statement yesterday following shareholders’ approval at the group’s 10th Annual General Meeting held physically and virtually in Lagos recently.

FCMB Group’s performance in 2022, is a 61 per cent growth in Profit Before Tax (PBT) to N36.6bn just as shareholders unanimously approved a dividend payout of 25 kobo per ordinary share for the year ended December 31, 2022, as against 20 kobo per share the previous year.

“The group’s stellar financial results showed a 33.5% growth in gross revenue to N283bn from N212bn the previous year. Customer deposits rose 25.1% to N1.94 trillion in December 2022 from N1.55trn the previous year, while loans and advances witnessed a 12.4% surge to N1.20trn as against N1.06trn in 2021,” the report added

Presenting the report for the year ended December 31, 2022, the chairman of FCMB Group, Mr Ladi Jadesimi, said despite the challenges of the business environment, the group demonstrated resilience.

“Financial institutions remain key to economic prosperity, supporting small businesses, revitalizing communities, fostering employability and building wealth for individuals and families.”

Also speaking, the Group Chief Executive, FCMB Group Plc, Mr Ladi Balogun, said the group has also launched the Banking as a Service (BaaS) platform, which has recorded over two million transactions totalling N80bn.