FCMB Group Plc released its financial results for the year ended December 31, 2017, has reported a gross revenue of N169.9 billion. Going by the audited results submitted to the Nigerian Stock Exchange (NS), the Group recorded a profit before tax (PBT) of N11.5 billion, while profit after tax (PAT) was N9.4 billion. The acquisition helped achieve further diversification of service offerings, consequently, earnings within the FCMB Group would probably be felt from the 2018 financial year. FCMB Microfinance Bank Limited, the Group’s dedicated group lending and financial inclusion vehicle, commenced operations as a state microfinance bank in January 2017. Following these developments, FCMB Group Plc’s operating companies are now divided along three business groups – Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); and Asset & Wealth Management (Legacy Pension Managers Limited, First City Asset Management Limited and CSL Trustees Limited).

Source: Nigerian Tribune April 05, 2018 16:41 UTC