FCMB’s half-year profit surges 80% as interest income rises

FCMB Group has reported a profit after tax of N13.66 billion for the first half of this year, compared to N7.56 billion in the same period in 2021.

The parent company of First City Monument Bank, in its unaudited interim financial statements, said its profit before tax rose to N15.43 billion from N8.91 billion in H1 2021.

Customer deposits grew to N1.64 trillion as of June 2022 from N1.55 trillion at the end of last year while loans and advances to customers increased to N1.12 trillion from N1.06 trillion.