FCMB posts higher profits half year


First City Monument Bank (FCMB) has reported a 26 per cent increase in profit after tax for its half year unaudited result.

The profit after tax during the period under review stood at N6.72 billion as against N5.32 billion recorded in the same period last year.

The bank’s result was published by the Nigerian Stock Exchange (NSE) on Monday.

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FCMB’s half year profit before tax for the period ended June 30, 2012 also appreciated by 17 per cent to N7.79 billion, compared with N6.56 billion achieved in the preceding year.

In the period under review, the bank’s gross earnings grew by 48 per cent to N52.56 billion as against N35.55 billion recorded in the comparative period in 2011.

Net assets also appreciated by 43 per cent to N864.49 billion, compared with the N602.89 billion declared in the previous year.

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