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  • Companies
  • Updated: August 01, 2023

Q2 2023: FCMB Records 148 Per Cent Increase In Profit

Q2 2023: FCMB Records 148 Per Cent Increase In Profit

For the second quarter of 2023, FCMB Group Plc has recorded a 148 per cent increase in profit before tax.

The group reported N38.2 billion profit from January to June this year, compared to N15.4 billion in the corresponding period of 2022.

This is according to the Group’s unaudited six-month results released to the Nigerian Exchange Limited (NGX).

During the period under review, FCMB Group’s gross revenue grew by 88.7% to N238.2 billion for June 2023, as against N126.2 billion for the same period in the previous year.

This growth was driven by a 51.9% increase in interest income and a 216.9% increase in non-interest income.

Commenting on the half-year financial results, the Group Chief Executive of FCMB Group Plc, Ladi Balogun, said: “We continue to leverage our unique Group structure to build a technology-driven ecosystem that fosters inclusive and sustainable growth in the communities we serve.

“This strategy enables us to deliver robust performance despite the challenging domestic and global environment."

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