FCMB assures investors of better ROI | Independent Newspapers Limited
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FCMB assures investors of better ROI

Posted: Apr 17, 2015 at 3:23 am   /   by   /   comments (0)

By Bamidele Ogunwusi  –  Correspondent, Lagos


FCMB Holdings has pledged to deliver better return on investment to its investors in spite of the slow outlook the financial institutions are expected to face this year.

Peter Obaseki

Peter Obaseki

Managing Director, FCMB Group Plc, Mr. Peter Obaseki speaking at the company’s facts behind the figure said though 2015 will be a difficult year due to naira depreciation and the drop in oil prices, the underlining resilience of the bank will help it ensure a robust figure during the current financial year.

“In 20 years we have operated, we have seen economic cycle, the boom and the burst but we have demonstrated resilience, which shows we can adapt to Nigerian financial environment,” Obaseki said.

He noted that the group is well positioned for wealth management, which is highly complementary to retail banking through cross sell opportunities and distribution synergies.

“FCMB is one of the only two financial institutions in the country permitted to have a pension fund administrator subsidiary by Central Bank of Nigeria (CBN). With 28 per cent in a PFA, we are uniquely positioned to tap into the huge PFA opportunity, currently growing at 14 per cent per annum, with total AUM of N4.6 trillion. FCMB is also strategically investing in non PFA asset management,” he said.

The group posted a 32 per cent increase in a profit before tax (PBT) for the full-year ended December 31, 2014.