FCMB grows Q3’20 profit by 28.84% to N13.9 billion

Adebayo Obajemu

First City Monument Bank (FCMB) in its published third quarter report for the period ended 30, September 2020 reported gross earnings of N146.43 billion, up by 7.81% from N135.82 billion achieved the previous year.

Profit after tax grew by 28.84% to N13.9 billion from N10.79 declared same period last year.

Earnings per share grew to 70 kobo from 54 kobo, which translates to 28.84% growth year on year.

At the share price of N3.3, the P.E ratio of FCMB stands at 4.7x with earnings yield of 21.28%