FCMB Banking Subsidiary Delays Group Third Quarter Result

FCMB Group Plc on Wednesday informed the investing public that due to the commencement of the interim audit of the company’s commercial banking subsidiary, First City Monument Bank Limited for the period ended September 30, 2018, the group third quarter result which due date is October 31, 2018, will not be ready.

This was contained in a statement which was sign by the company secretary Funmi Adedibu and send to the Nigerian Stock Exchange.

The consolidated third quarter 2018 results of FCMB Group Plc, will be released on The Nigerian Stock Exchange on or before 29 November 2018.

However, the group reported Gross earnings of ₦83.92 billion for the period ended June 2018 compared to ₦77.51 billion reported for the period ended June 2017. This represents an 8% increase for the comparative period in 2017.

Profit before tax was ₦7.10 billion for the period ended June 2018, an 86% increase from ₦3.82 billion reported for the period ended June 2017.

The group’s profit after tax for the half year ended 30th June 2018 was ₦5.73 billion, compared to ₦3.02 billion recorded in half-year 2017. This represents a 90% increase for the comparative period in 2017.

Photo Caption: Ladi Balogun Group Managing Director FCMB Plc