…Declares 1 for 25 bonus
First City Monument bank Plc (FCMB) has declared N15.3 billion after tax profit for the Financial year ended December 31st 2012, and a bonus of one additional share for every 25 shares held by its shareholders.

The bank has also declared profit after tax of N4.2billion for the first quarter ended March 31, 2013.

The audited accounts for the full year ended December 31, 2012 recorded a profit after tax of N15.3billion, an increase of 256% over 2011. Similarly, profit before tax rose significantly by 252.1% to N16.23billion in 2012.

The financial report for 2012 also showed that gross earnings was up by 54.3% from N75.70billion realised in 2011 to N116.83billion, indicating an increasing market share for FCMB.

Also, the financial institution’s loans and advances improved by 10.7% to N357.798billion last year compared to N323.353billion the previous year. As a demonstration of its resilience, the bank’s total assets equally rose to N909billion as at the end of 2012, as against N602billion in 2011.