FCMB closes 2024 with gorgeous N7.1 trillion in belongings, declares dividend

FCMB Group Plc held its twelfth Annual Normal Assembly (AGM) in Lagos on April 29, 2025, the place shareholders permitted the Group’s 2024 audited monetary statements and key resolutions geared toward driving long-term development and strengthening company governance.

The Group ended the 2024 monetary 12 months with whole belongings of ₦7.1 trillion and buyer deposits of ₦4.3 trillion.

FCMB’s digital transformation initiatives yielded robust outcomes, with digital revenues rising to ₦101.9 billion — 13% of whole earnings. Lending rose by 28% to ₦2.4 trillion.

Non-banking subsidiaries performed a big function within the Group’s efficiency, contributing over 30% of whole income. Funding Administration noticed Belongings Beneath Administration develop 35% year-on-year to ₦1.4 trillion.

The Capital Markets division posted a 57% rise in gross earnings and 62% development in revenue earlier than tax.

The Group additionally demonstrated a powerful dedication to inclusive finance. Loans to small and medium-sized enterprises (SMEs), the agricultural sector, and women-owned companies totalled ₦425 billion, ₦271 billion, and ₦30 billion respectively, with year-on-year development of 31%, 33%, and 68%.

Chairman of FCMB Group, Mr. Oladipupo Jadesimi, praised the Group’s diversified construction and resilient workforce.

“We’re targeted on sustainable worth creation by means of a enterprise mannequin that balances monetary power with optimistic social and financial affect,” he stated.

Group Chief Govt, Mr. Ladi Balogun, acknowledged the robust working surroundings however highlighted the dedication of the Group’s workers and subsidiaries.

He famous that future development can be pushed by digital innovation, significantly in onboarding, funds, and synthetic intelligence.

“We’ll proceed constructing a sturdy ecosystem supported by our folks, companions, regulators, and buyers to fulfil our imaginative and prescient of shaping a sustainable future,” he added.

Key resolutions handed on the AGM included: re-election of Ms. Muibat Ijaiya as a Director, approval of ₦0.55 remaining dividend per share for shareholders on the register as of April 8, 2025

Authorisation of Deloitte & Touche’s remuneration as exterior auditors and approval of the Audit Committee members and senior administration remuneration disclosures

Trying forward, FCMB Group is progressing with its recapitalisation plan. The second section of its Public Supply — a ₦22.5 billion convertible be aware — is presently present process verification by the Central Bank of Nigeria (CBN).

Additional steps embody divesting minority stakes in two subsidiaries and launching a further fairness increase. These efforts are geared in direction of guaranteeing that First Metropolis Monument Financial institution meets the capital necessities to retain its worldwide banking licence by March 2026.