• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, July 23, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FCMB Group Records N283bn Revenue In 2022

by Zaka Khaliq
2 years ago
in Business
FCMB
Share on WhatsAppShare on FacebookShare on XTelegram

FCMB Group Plc, in its audited results for December 31, 2022, showed a 35.5 per cent growth in gross revenue to N283 billion from N212 billion the previous year. 

Advertisement

This, the group said, was driven by a 35.5 per cent growth in interest income and a 26.9 per cent growth in non-interest income. 

Similarly, it reported a Profit before Tax (PBT) of N36.6 billion, representing a 61 per cent Year-on-Year growth. Double-digit growth was recorded across all business segments, with the banking group growing by 71.7 per cent, while the consumer finance, investment management, and investment banking segments grew by 25.6 per cent, 45.7 per cent, and 26.7 per cent respectively. 

The company, which proposed a dividend of 25 kobo per share, also delivered impressive environmental, social and governance results in climate action, financial inclusion, food security, community initiatives, customer acquisition, and digital transformation. 

It switched 12 additional branches to solar power in 2022, removing 75 per cent of its branch network from grid/diesel generators, and provided micro-loans totaling N13 billion to 120,000 MSMEs. The agency banking arm extended its partnership to 100,000, acquiring over 211,000 customers. Working alongside partners, FCMB supported 280,000 smallholder farmers, created over 600,000 jobs, and helped deliver Africa’s first cassava-based Sorbitol Factory.

RELATED

Keystone Bank Rewards Outstanding Young Poets In ‘Kiddies Poetry’ Competition

Keystone Bank Rewards Outstanding Young Poets In ‘Kiddies Poetry’ Competition

13 hours ago
CBN Warns Against Counterfeit Banknotes, Urges Vigilance, Electronic Transactions

Again, CBN Pegs Interest Rate At 27.5%

13 hours ago

Customer confidence remained strong as deposits rose 25.1 per cent to N1.94 trillion in December 2022 from N1.55 trillion the previous year, while loans and advances witnessed a 12.4 per cent surge to N1.20 trillion as against N1.06 trillion in 2021. 

sets increased by 19.6 per cent from N2.50 trillion to N2.98 trillion in December 2022. 

Investment banking (advisory and primary debt and equity capital markets) transaction value consummated by the Group rose to N857.1 billion in 2022, compared to N582.9 billion in 2021. 

This delivered a 47 per cent growth in fees from capital raise and financial advisory services over the period. The financial service Group’s Assets under Management (AUM) also sustained its growth trajectory rising to N783.7 billion in 2022, up by 49.0 per cent from N525.7 the prior year.

Net interest income grew 34.2 per cent to N122.0 billion for the first twelve months of 2022, compared to N90.9 billion in 2021. This was driven by a growth in the yield on earning assets from 11.0 per cent to 12.7 per cent, which increased Net Interest Margin (NIM) from 6.2 per cent to 7.0 per cent.

The overall customer base of FCMB Group grew by 18.4 per cent to 10.9 million, as it acquired an additional 1.7 million customers in the period, including 250,000 customers from Pension Fund Administrator (PFA acquisition), compared to 900,000 in 2021.

This Group’s digital transformation drive witnessed enhanced performance across all business segments. Digital Payments, Wealth, and Lending continued to empower more customers, resulting in a 42.0 per cent growth in digital revenues from N26.1 billion in 2021 to N37.1 billion in 2022. Thus, digital revenues accounted for 13 per cent of gross earnings from the 12% contribution in 2021.

In digital retail lending, First City Monument Bank and Credit Direct Limited, subsidiaries of the Group, underwrote and disbursed over 962,000 loans, totaling N42.1 billion, as at December 31, 2022, a growth of 17.1 per cent and 24.9 per cent, respectively, from the prior year. Through the Bank’s digital SME lending channels, over 21,000 loans, totaling N165.2 billion, were accessed, underwritten, and disbursed, a growth of 1.9 per cent and 43.7 per cent, respectively.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: FCMB
SendShareTweetShare
Previous Post

Transcorp Hotels Plc Records N31.4bn Revenue In 2022

Next Post

Calls For Interim Government Are Mere Expressions Of Frustration

Zaka Khaliq

Zaka Khaliq

You May Like

Keystone Bank Rewards Outstanding Young Poets In ‘Kiddies Poetry’ Competition
Business

Keystone Bank Rewards Outstanding Young Poets In ‘Kiddies Poetry’ Competition

2025/07/22
CBN Warns Against Counterfeit Banknotes, Urges Vigilance, Electronic Transactions
Business

Again, CBN Pegs Interest Rate At 27.5%

2025/07/22
FUEL CRISIS…Hold Marketers Responsible For Long Queues – Dangote
Business

Refinery: We Imported 150,000 Containers Through Lome Port — Dangote

2025/07/22
Mechanical Engineer From Kwara — All You Need To Know About New NNPCL Boss Bashir Ojulari
Business

Capital Flight: NNPC Boss Ojulari Warns Against Holding Africa’s Refining Vision Hostage

2025/07/22
BUA Cement Expends N360m On CSR In Sokoto
News

BUA Cement To Slash Cost of Production By Generating Own Electricity

2025/07/22
Knorr Partners Creators To Inspire New Wave Of Joyful Home Cooking
News

Knorr Partners Creators To Inspire New Wave Of Joyful Home Cooking

2025/07/22
Leadership Conference advertisement

LATEST

Gov Radda Certified Fit To Resume Duties After Road Crash

Remi Tinubu Hails Super Falcons’ Brilliance, Prays For Victory At Final

Rock Legend Ozzy Osbourne Dies At 76

Reps Back Regional Dev’t Commissions

Amaechi’s Wife Denies ₦4bn Monthly Payment From NDDC

N-Power: Senate Intervenes In Unpaid N81bn Beneficiaries’ Allowances

Kwankwaso Only Grassroots Politician To Replace Buhari, Says NNPP Chieftain Ringim

Igboho Begs Federal Gov’t To Remove Name From Security Wanted List

Reps Reject US 3-month Visa Validity For Nigerians

WAFCON 2025: Your Victory Over South Africa Superlative, Tinubu Hails Falcons

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.