FCMB Group 2016 Financial Summary

FCMB Group Plc was incorporated in Nigeria as a financial holding company on November 20, 2012, under the Companies and Allied Matters Act, in response to the CBN's Regulation on the Scope of Banking Activities and Ancillary Matters (Regulation 3). The principal activity of FCMB Group Plc is to carry on business as a financial holding company, investing in and holding controlling shares in, as well as managing equity investments in Central Bank of Nigeria approved financial entities. The Company has four direct subsidiaries; First City Monument Bank Limited (100%), FCMB Capital Markets Limited (100%), CSL Stockbrokers Limited (100%) and CSL Trustees Limited (100%). FCMB Group Plc is a company domiciled in Nigeria. The address of the company’s registered office is 44 Marina, Lagos. These audited reports for the year ended 31 December 2016 comprise the Company and its subsidiaries (together referred to as the "Group").

12 Months Report FCMB GROUP PLC
	2016 N'000	2015 N'000	change	Year End
Revenue	176,351,973	152,507,947	16%	December
Profit/Loss  before taxation	16,251,397	7,768,664	109%
Profit for the period	14,338,882	4,760,666	201%
Issued Shares (Units)	19,802,710,781	19,802,710,781
Basic Earnings Per Shares (Kobo)	0.72	0.24	200%
Last total dividend paid (Kobo)	10.00	10.00

Quarter on Quarter performance

Revenue                                                                   PAT

N'000                                                                       N'000

Q1: #28,504,909                                                      Q1: #1,645,401

Q2: #59,778,047                                                      Q2: #14,022,746

Q3: #52,444,206                                                      Q3: (#1,201,348)

Q4: #35,624,811                                                      Q4: (#127,917)

FCMB made average gross revenue of #44.09billion and #3.58Billion in Profit after tax (PAT).

FCMB made most of its earnings in Q1 and Q2 and declined in Q3 and Q4.

A closer look at the report shows that non-performing loan grew by 0.41% which shows that the company is weary of making loan even as loan and advances grew by 11.30%.

Other income grew by 215.22%. The most alarming is the Net impairment loss on Financial assets that deteriorated by 136.29% from (#15.03billion) to (#35.52billion).

As at December 31, 2016 the Capital adequacy ratio of the Bank was 16.54% higher than the 15% minimum required by CBN.

I belief part of the reason #12.5billion was transferred to retained earning.

FCMB would face its first trading session tomorrow 29th March 2017 after releasing its result to the public. The stock closed at #1.25k today 28th March 2017 with a dividend yield of 8%.