FCMB Group Shareholders Ratify N1.98billion Proposed Dividend

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Shareholders of the FCMB Group have unanimously approved the payment of a cash dividend of N1.98billion, translating to 10 kobo per ordinary share, for the year ended December 31, 2015.

Chairman of FCMB Group, Jonathan Long, who spoke at the AGM, said: “Although 2015 posed many challenges for the Group, it was again possible for us to continue the development of our core banking franchise and to do so profitably.”

“With the depth and range of professional excellence among our staff, and benefitting from our strong board and committee structure, the Group will deal successfully with the challenges of 2016 and continue to lay a path for future growth and prosperity in a sustainable manner.”

The Managing Director of FCMB Group Plc, Peter Obaseki, noted that the Group is focused on sustaining the momentum of its leading retail presence.

He added: “The outlook for 2016 in terms of portfolio strategy is positive. As we seek to build more businesses in the retail space, we hope to fully launch a micro-finance business as a full subsidiary of the Group and seek opportunities to improve controlling participation in the pension fund industry; we expect our non-pension asset management and private trusteeship business to grow more steadily. A combination of these initiatives will reduce the pressure on the bank’s balance sheet and steer activities to less capital intensive businesses.”

FCMB Group Plc, the holding company of First City Monument Bank (FCMB) Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited and CSL Trustees Limited.

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