Edited by Hannah Afolabi
FCMB Group Plc has reported a considerable increase in profit before tax, demonstrating a 186% Year-on-Year growth compared to the previous year. Growth was observed across various sectors such as Banking Group, Consumer Finance, Investment Management, and Investment Banking.
The company has proposed a dividend of 50 kobo per share for its shareholders. Notably, FCMB Group has played a role in enhancing food security and promoting import substitution in Nigeria by increasing its lending to the agricultural sector. The Bank has supported over 300,000 smallholder farmers, with a particular focus on women, and has secured significant funding from development finance institutions and donor agencies to advance sustainable development goals. Furthermore, FCMB has facilitated substantial export and remittance flows into Nigeria and implemented initiatives to promote environmental sustainability by transitioning multiple branches to solar power.
The customer base of FCMB has expanded, and the utilization of its mobile app has grown, providing lending, wealth management, and payment solutions to an increasing number of users.
The Group Chief Executive has underscored the company’s strategic use of technology to drive inclusive and sustainable growth, expressing confidence in continued success and efficiency gains through digitalization.
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