despite the challenging operating environment. The shareholders, who gave the commendation at the 7thAnnual General Meeting of the Group on April 28, 2020 at its corporate head office in Lagos, also unanimously approved the payment of a cash dividend of 14 kobo per ordinary share, which translates to N2.77 billion, for the year ended December 31, 2019.
The Chairman of FCMB Group, Mr. Oladipupo Jadesimi, along with the Group Chief Executive, Mr. Ladi Balogun, Company Secretary/General Counsel, Mrs. Funmi Adedibu, a Director, Mr. Olusegun Odubogun, Chief Operating Officer of the Group, Mr. Peter Obaseki, representatives of the Central Bank of Nigeria, Securities and Exchange Commission as well as leaders of shareholder Associations, were present at the meeting.
Also speaking at the AGM, the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, said, “our businesses continue to improve with growth in other key indicators, such as loans and advances, deposits and Assets Under Management , which grew by 13.1%, 14.7% and 28.3%, respectively. Our customer base also grew by 27.5% across the Group from 5.5 million to 7 million. Overall customer satisfaction has shown positive trends, with a net promoter score of 31 in Banking and 23 in Asset Management”.
Going by the results, FCMB Group’s gross revenue in 2019 increased to N188 billion compared to N177.2billion in 2018. The strong performance also manifested in profit before tax, which rose by 9% to N20.1 billion. The financial results also showed that net interest income increased by 5% Year-on-Year to N76 billion for the twelve months of 2019 from N72.6 billion within the same period in 2018. In demonstration of enhanced customers confidence in FCMB, deposits grew to N943.
Shareholders in attendance commended FCMB Group’s Board of Directors for the decision to go ahead with the AGM by proxy at a time when some other companies have decided to cancel their AGMs due to the COVID-19 pandemic.
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