First City Monument Bank, FCMB at its 30thAnnual General Meeting, disclosed its 2012 financials, submitting that revenue grew by 48% between 2011 and 2012 from N49.2 billion to N72.6 billion respectively. It made a profit after tax (PAT) of N15.29 billion, from the loss of N9.24 billion in 2011. Total deposits grew from N411 billion in 2011 to N646 billion in 2012, which is an increase of 57%.
Chairman of the group, Jonathan Long, commended AMCON saying, “The Asset Management Corporation of Nigeria (AMCON) has made significant advances in resolving the issue of non-performing loans in the banking system, consequently paving the way for banks to increase their lending activities.”
