FCMB Group Plc convened its 12th Annual General Meeting (AGM) in Lagos on April 29, 2025, where shareholders endorsed the Group’s 2024 financial results and approved key resolutions to drive future growth and strengthen governance.

This comes as the bank closed 2024 with total assets of N7.1 trillion and deposits of N4.3 trillion. The Group’s digital transformation gathered pace as digital revenues reached ₦101.9 billion, accounting for 13 per cent of gross earnings, while loans grew 28 per cent to N2.4 trillion.

The company’s non-banking divisions also achieved impressive growth, accounting for over 30 per cent of the total profits. Investment management’s assets under management grew by 35 per cent YoY to N1.4 trillion. The capital markets business sustained its performance, with gross earnings and PBT growing YoY by 57 per cent and 62 per cent respectively.

Lending to SMEs, agriculture, and women-owned businesses exceeded N425 billion, N271 billion and N30 billion, growing year on year by 31 per cent, 33 per cent and 68 per cent respectively, demonstrating FCMB’s commitment to its purpose of fostering inclusive growth.

Speaking at the AGM, Oladipupo Jadesimi, Chairman of FCMB Group, commended the Group’s diversified business model and the resilience of its workforce.

“As we navigate an evolving economic landscape, we remain resolute in our mission, leveraging our Group structure and collective strengths to build a future where excellence is not only measured by our achievements but by the positive and sustainable impact we create.

“This commitment is grounded on the deliberate consideration of facilitating sustainable business growth and capital requirements, with the overarching goal of optimising long-term value for our shareholders,” he said.

The Group Managing Director, Ladi Balogun, stated: “Despite the challenging business landscape, our performance in 2024 was sustained by the commitment and professionalism of our talented staff, as well as the resilience demonstrated by each of our operating companies.

“Going into 2025 and beyond, we expect more significant and diversified contributions from digitisation with a focus on digital onboarding, payments, and artificial intelligence. We will also reinforce our culture of excellence and extend the power of the Group in building a supportive ecosystem in fulfilment of our purpose. With the collective support of our ecosystem, including our people, investors, regulators, customers and partners, we will remain committed to carrying forward the vision of our Founder, building an institution, nation and continent in which future generations can take pride.”