FCMB’s shareholders affirm dividend

 FCMB’s shareholders affirm dividend 

...As Group closes 2024 with N7.1trn assets

FCMB Group Plc has closed year 2024 with total assets of 7.1 trillion and deposits of 4.3 trillion.

This was disclosed to shareholders at its 12th Annual General Meeting (AGM) in Lagos.

The result further shows that Group’s digital transformation gathered pace as digital revenues reached ¦ 101.9 billion, accounting for 13% of gross earnings, while loans grew 28% to ¦ 2.4 trillion.

The Group’s non-banking divisions also achieved impressive growth, accounting for over 30% of the Group’s total profits. Investment Management’s Assets Under Management grew by 35% YoY to N1.4 trillion. The Capital Markets business sustained its performance, with gross earnings and PBT growing YoY by 57% and 62%, respectively.

Speaking at the AGM, Mr. Oladipupo Jadesimi, Chairman of FCMB Group, commended the Group’s diversified business model and the resilience of its workforce.

“As we navigate an evolving economic landscape, we remain resolute in our mission, leveraging our Group structure and collective strengths to build a future where excellence is not only measured by our achievements but by the positive and sustainable impact we create. “This commitment is grounded on the deliberate consideration of facilitating sustainable business growth and capital requirements, with the overarching goal of optimising long-term value for our shareholders.”

Ladi Balogun, the Group Chief Executive, stated: “Despite the challenging business landscape, our performance in 2024 was sustained by the commitment and professionalism of our talented staff, as well as the resilience demonstrated by each of our operating companies.

“Going into 2025 and beyond, we expect more significant and diversified contributions from digitisation with a focus on digital onboarding, payments, and artificial intelligence. 

We will also reinforce our culture of excellence and extend the power of the Group in building a supportive ecosystem in fulfilment of our purpose. With the collective support of our ecosystem, including our people, investors, regulators, customers and partners, we will remain committed to carrying forward the vision of our Founder, building an institution, nation and continent in which future generations can take pride.”

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