Group Plc grew deposits, loans, assets under management, revenue and earnings and improved its environmental, social, and corporate governance scorecard. The Group recorded a profit before tax of ₦104.4 billion, a 186% year-on-year increase compared to ₦36.6 billion in 2022 and earnings growth across its business segments: Banking Group 212.6%, Consumer Finance 67.3%, Investment Management 40%, and Investment Banking 89.7%.
Leveraging its core banking business, the Group facilitated over $700 million and $100 million in export and remittance flows into Nigeria, respectively, as at December 2023.In safeguarding the environment, it switched six additional branches of its retail and commercial banking subsidiary from grid/diesel generators to solar power last year, taking the number of branches running on renewable energy to 160, which represents 78% of total branches.
The results across market fundamentals also showed gross revenue of N516.4 billion for the period ended December 2023, an 82.5% growth from N283 billion for the same period the prior year. Net interest income grew by 44.8% from N122 billion in 2022 to N176.6 billion in 2023. Customer confidence in FCMB remained strong, as deposits rose by 58.5% YoY from N1.94 trillion to N3.08 trillion, just as loans and advances grew by 54% from N1.20 trillion to N1.84 trillion.
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