First City Monumental Bank, FCMB, Plc has recorded a 6.5 percent growth in its Profit After Tax (PAT) for the full year ended December 31st 2021, appreciating to N20.8 billion from N19.6 billion posted same period the previous year.
According to the bank’s financial statement release on Wednesday, the lender grew its Profit by 53 percent on a quarter on quarter basis, surging from N13.8 billion in the third quarter of 2021 to N20.8 billion in quarter 4, 2021. This was reported by INSIDEBUSINESS.
Details from the full year report shows that Gross earnings jumped to N208.528 billion from N199.439 billion, while impairment losses on financial instruments was down to N9.057 billion from N22.308 billion in 2020.
FCMB’s Assets grew by 20.58 percent to N2.482 trillion in 2021, from N2.058 trillion it recorded in the corresponding year, while Liabilities stand at N2.240 trillion and equity closer at N241.19 billion.
The full year report shows that the banks gross earnings fell by
N4.5 percent, losing N9 billion to close at N208.528 billion down from N199.439 in 2020, while Net interest income dipped by N288 million to stand at N90.47 billion from N90.75 billion it posted in the previous year.
According to the 12- months report, Net fees and commission income rose by 42 percent to close at N27 billion from N19.7 billion recorded in the same period in 2020.
 for the full year ended December 31st 2021, appreciating to N20.8 billion from N19.6 billion posted same period the previous year.){kind=link}