Q2 2022: FCMB Records 73.2% Increase In Profit

FCMB Group Plc has released its financial statement for Q2 2022, which reveals a 73.2 per cent growth for the six months ended June 30, 2022.

According to the statement, the bank disbursed over 442,000 loans totalling N21.0 billion to more than 171,000 persons via its digital channels in the first six months of 2022.

N93.4 billion loans were also disbursed to Over 12,000 small businesses through its digital channels in H1, 2022.

A statement also revealed a profit before tax of N15.4 billion was recorded by the bank which is equivalent to 73.2 per cent year-on-year growth compared to N8.9 billion in 2021.

It also recorded 84.2per cent in the Banking Group, 42.7per cent in Consumer Finance, 41.9per cent in Investment Management, and 253.8per cent in investment banking.

The statement also disclosed that the FCMB’s Gross revenue increased by 34 per cent to N126.2 billion during the period under review compared to N94.2 billion recorded in H1, 2021.