May 20, 2022


Accounting + Finance Blog

FCMB Posts 20.8 billion PAT in Quarter 4 2021

FCMB Posts 20.8 billion PAT in Quarter 4 2021

FCMB has posted a 20.8 billion profit after tax (PAT) in quarter 4 of 2021. This was made known through its audited financial statement made available in the Nigeria Exchange Group yesterday. The new generation bank saw a spike in its profits by 6.8 YoY. The following is deduced from the report.

FCMB Gross Earnings

The bank’s total earnings for the period ending 31st December 2021 was 208.5 billion Naira. A higher value than the previous period of 199.4 billion Naira. Its interest income was 161.5 billion Naira. Other incomes such as fees and commission hit 35.4 billion Naira and net trading income of 3.0 billion Naira.

Profit after tax of FCMB

The profit after tax was 20.8 billion Naira in the period under review. This was higher compared to 19.6 billion in December 2020. And represents a 6.8 percent increase year on year.

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Impairment Expenses

FCMB reduced its impairment losses to 9 billion Naira from 22.3 billion Naira. Despite a loan and advance value of 1 trillion Naira from 822 billion Naira the previous period.

Core Expenses

FCMB’s Personnel expenses were up to 31.2 billion Naira from 29.5 billion Naira. Depreciation and amortization were 7.9 billion from 7.5 billion Naira. While general and administrative expenses rose to 34.5 billion Naira from 30.4 billion.

FCMB Cash and Cash Equivalents

The cash and cash equivalents value was posted as 369.1 billion Naira from 221 billion the previous period. However, customers’ deposits were 1.5 trillion Naira from 1.2 trillion Naira previously.

Total Assets of FCMB

The value of FCMB’s total assets for December 2021 was 2.4 trillion. This is a rise from 2.0 trillion Naira.


In summary, FCMB performs better when compared with the previous period’s growth. The bank grew in most performance measurements including profit after tax, gross earnings, and total assets.