Citing Interim Audit, FCMB Postpones Q3 Results Release


FCMB PLC said it is postponing the release of  its Q3 result. In a statement made available by the bank, the delay is due to “interim audit’

“FCMB Group Plc (Bloomberg: FCMB) announces that its nine months ended 30 September 2016 (3Q16) Results will be released before the end of November (2016), due to the bank’s interim audit”.

“FCMB Group Plc would like to inform the investment community, of the commencement of the interim audit of First City Monument Bank Ltd as at 30 September 2016, by KPMG, the bank’s auditors, which should pave way for the release of the 3Q16 earnings results of FCMB Group Plc, on the Nigerian Stock Exchange, before the end of November 2016.

“As always, please do not hesitate to contact the investor relations team if you have any enquiries”.

Early this year, FCMB cut several jobs to restructure its business. The implementation of the TSA, crash in global crude prices and the increase in credit defaults have affected most Nigerian banks.

In its Q1 announcements, FCMB announced that it will rather recover funds than increase its loan book for the rest of the year.

FCMB said it has approximately 3.4 million customers and 205 branches spread across every state of the Federal Republic of Nigeria and in the United Kingdom through FCMB Bank (UK) Limited (which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom).

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