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FCMB Group Plc Reports Strong Customer Growth of 11.4 Million

by NaijNaira
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The customer base of FCMB Group Plc has risen to 11.4million as its financial results for the first quarter of 2023, revealed.

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FCMB Group Plc has reported a strong customer growth of 11.4 million in its financial results for the first quarter of 2023.

This growth is attributed to the success of the group’s digital banking initiatives across various business segments.

Digital revenues accounted for 12.0% of gross earnings, equivalent to N10.0 billion, highlighting the group’s commitment to leveraging digital solutions to enhance customer experiences and drive financial inclusion.

The impact of digitalisation was evident across FCMB Group’s various business lines, with digital channels accounting for 7.0% of the Assets Under Management (AUM) in the group’s Asset Management business.

The group achieved a significant 50% increase in gross revenue, driven by a substantial 41.4% increase in interest income and an impressive 84.2% rise in non-interest income.

FCMB Group also acquired 500,000 new customers, pushing its customer base to 11.4 million, reflecting the group’s commitment to delivering exceptional financial services and its ability to attract and retain a large and loyal customer base.

This article was updated 4 months ago

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