FCMB Group declares 10k dividend, announces N170bn gross revenue

FCMB wins Africa Best Environmental Supporting

FCMB Group Plc has recommended a dividend of 10 kobo per share to be paid to its shareholders for the year ended December 2017.

The bank in its financial results for the year in review reported a gross revenue of N169.9 billion, compared with N176.352 billion in 2016.

The group recorded a profit before tax (PBT) of N11.5billion, showing a decline of 29 per cent from N16.251 billion in 2016.

Profit after tax (PAT) also fell by 34 per cent from N14.338 billion in 2016 to N9.410 billion in 2017.

In November 2017, FCMB completed the acquisition of an additional 60 per cent stake in legacy pension managers limited, which increased FCMB’s stake from 28.2 per cent to 88.2 per cent , thereby making legacy a subsidiary of FCMB.

According to FCMB, the acquisition has helped achieve further diversification of service offerings and, consequently, earnings within the FCMB group, which will be felt from the 2018 financial year.

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