By Oboh Agbonkhese

FSDH Merchant Bank Limited has posted a profit before tax of N4.72 billion for the financial year ended December 31, 2015, representing an increase of 29.67 percent over the profit of N3.64 billion for the year ended December 31, 2014.

The Managing Director and Chief Executive Officer of the bank, Mr. Rilwan Belo-Osagie, gave the figures at a briefing in Lagos, ahead of their annual general meeting fixed for April 28.

Osagie-Belo said the profit after tax attributable to the group increased by 34.98 percent to N4.09 billion from N3.03 billion in 2014.

He said: “During the period under review, all our subsidiaries posted profits. FSDH Asset Management contributed a profit after tax of N307.93 million; Pensions Alliance Limited, N960.01 million and FSDH Securities added N63.27 million.”

Belo-Osagie, who was flanked by the Executive Director, Mr Hamda Ambah, and General Manager, Mr. Robert Ajiamah, said in spite of the challenges in the economy and in the financial markets, “we intend to continue to harness the opportunities we identify in carefully selected industries, while continuing with our conservative approach of building a portfolio of risk assets that will be enduring.”