Published 3 months ago

FCMB’s wages and salaries bill increased by 74% YoY to N26.6 billion, from N15.2 billion as of H1 2023 - Daily Trust

Summary by Daily Trust

The group’s micro-lending arm, Credit Direct Limited, posted a profit after tax of N3.9 billion and a revenue of N16.5 billion. Credit Direct has grown to become the second largest subsidiary of the group, with an asset size of N92.7 billion. As part of its cash balances, the bank has a balance of N660 billion with foreign banks, marking a 75% jump in 2024, from the N376.4 billion balance held as at FYE 2023. However, this sum includes N96.8 bil…

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FCMB’s wages and salaries bill increased by 74% YoY to N26.6 billion, from N15.2 billion as of H1 2023 - Daily Trust

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