RESULTS: FCMB Plc Post N16billion PAT, Declares 30kobo Dividends

FCMB Plc released its 2013 FY audited results showing a 12.6% rise in profit after tax. Highlights of the results are as follows;

• Net interest income was N56.1billion a 29% rise from N43.3billion posted in 2012
• Operating expenses rose 33% to N58.1billion (2012: N43.7billion)
• Profit before tax was N18.1billion representing a 12.6% rise from N16.2billion posted in 2012
• Profit after tax rose 5.8% to N16billion (2012: N15.1billion)
• Loans and advances rose 26% to N450billion (2012: N357.7billion)
• Customer deposits rose 10% to N715billion (2012: N646billion)
• Cost to income ratio by our estimates was 69% in 2013 compared to 60% posted in 2012
• Return on equity was 11.6% compared to 12% posted a year earlier