FCMB posts N32.59bn profit in Q4 2022

Adebayo Obajemu

First City Monument Bank (FCMB) in its Fourth Quarter report for the period ended 31 December 2022 achieved significant growth in its topline and bottom line figures.

The financial institution reported the Gross Earnings of N281.75 billion for the 12 months period, up by 32.89% from N212 billion reported the previous year.

Profit after tax grew year of year by 55.81% to N32.59 billion from N20.92 billion achieved the previous year.

Earnings per share of FCMB stands at N1.65, up by 55.18% from the EPS of N1.06 achieved the previous year.

At the share price of N4.16, the P/E ratio of FCMB stands at 2.53x with earnings yield of 39.56%.