First City Monument Bank Plc has released an improved Financial results for the year ended 31st December, 2018, growing its Profit After Tax (PAT) by 73.83% to close the current Accounting year at N14.9 billion away from N8.6 billion garnered in the preceding year of 2017
The financial service company reported a total of N177.2 billion Gross Earning in the current period under review which is 4.34% better than N169.8 billion recorded in 2017.
The company financial reports which was made public on March 29, 2018 showed that the company’s earnings per share, advanced by 73% from 2017’s 43kobo to 76kobo recorded in the period under review.
The current period’s PE Ratio is at 2.57x and the earnings yield at 38.97% with the stock worth of N1.94 per unit as at the date of computation.
A Dividend of 14kobo per ordinary share of 50k each was recommended to the shareholders, subject to the deduction of the appropriate withholding tax and approval at the Annual General Meeting of the Company, will be paid to Shareholders whose names appear in the Register of Members as at the close of business on Tuesday, April 2nd, 2019.
The Bank Register for Members will be closed from Wednesday, April 3rd, 2019 to Tuesday, April 9th, 2019.
FCMB Group Plc engages in the provision of banking and financial services to its corporate and individual customers. It operates through the following segments: Investment Banking, Asset Management, SME Banking, Commercial Banking, Corporate Banking, Personal Banking, Institutional Banking, and Treasury and Financial Markets. The Investment Banking segment provides comprehensive services to large corporate organizations. The Asset Management segment administers and manages the pension fund assets and other investment portfolios for structured retiree savings account holders and other equity fund account holders. The SME Banking segment provides banking services to Small and Medium Enterprises (SME). The Commercial Banking segment provides banking services to Small and Medium Enterprises (SME) and commercial registered businesses with an annual turnover between N2.5 billion and N5 billion. The Corporate Banking segment incorporates direct debit facilities, current accounts, deposits, overdrafts, loan and other credit facilities, foreign currency and derivative products. The Personal Banking segment handles private banking services, private customer current accounts, savings, deposits, investment savings products, custody, credit and debit cards, consumer loans and mortgages. The Institutional Banking segment caters for governments at various levels and their agencies. The Treasury and Financial Markets segment provides funding support to various business segments while ensuring the liquidity of the Bank is not compromised. The company was founded in 1977 and is headquartered in Lagos, Nigeria.