FCMB Group, a Nigerian financial services holding company, has achieved a remarkable profit before tax of 104.4 billion naira ($74.8 million) for the fiscal year ending December 31, 2023, marking a substantial 186 percent increase compared to the previous year. This outstanding performance was propelled by growth across its diverse business segments, including Banking Group, Consumer Finance, Investment Management, and Investment Banking. Furthermore, the Group proposed a dividend of $1.05 per share for its shareholders. Leveraging its core banking operations, FCMB facilitated significant financial flows, including over $700 million and $100 million in export and remittance flows into Nigeria, respectively, by December 2023.
Additionally, the bank demonstrated its commitment to sustainability by transitioning six additional branches to solar power, bringing the total to one hundred sixty branches, representing 78 percent of its network. Moreover, FCMB secured funding of up to $9.3 million to support customers in adopting renewable energy solutions.