FCMB promise to increase shareholders earnings

Yemisi Izuora
The  Managing Director, FCMB Group Plc, Mr Peter Obaseki has said that the company would ensure increased return on investment to all shareholders in 2015 financial year and that the company would be committed to operational efficiencies and value creation in spite of the slow outlook expected in the financial institutions in 2015.

He stated this recently in Lagos at the presentation of the company’s ‘’facts behind the figures’’ on the floor of the Nigerian Stock Exchange (NSE), adding that  2015 financial year would be a difficult year as a result of naira depreciation and the drop in oil prices at the international markets.

Obaseki said that FCMB would be committed to cost optimization and efficiency to increase shareholders value.

“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,” he said.

He said that the group would embrace new business opportunities and ensure reduction in cost of capital for value creation.

He further  said that FCMB was 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 the huge PFA opportunity, currently growing at 14 per cent per annum, with total asset of N4.6 trillion,” he said.

Also speaking, Mr Ladi Balogun, the Managing Director, FCMB Bank Ltd., said the bank would remain focus to maintain its retail banking leadership.

Balogun said that the bank would emerge as one of the most relevant financial services brands in the country.

He stated that the bank would acquire 50,000 new customers and as well dispense 20,000 new loans every month.

Earlier, Mr Oscar Onyema, NSE Chief Executive Officer, said that the exchange would ensure continuous introduction of value added services and products to satisfy yearning investors.

Onyema who was represented by Mr Ade Bajomo, NSE Executive Director, Market Operations, said that it would leverage on global best practices to restore investor confidence.

He said that the exchange would strengthen its strategies to increase investors’ participation level in the market.

Onyema, however, urged the bank to ensure strict adherence to post-listing requirements and ensure prompt release of audited and non-audited results.

He called on FCMB to leverage on culture of excellence, innovation and efficient service delivery to ensure maximum returns to all its stakeholders.

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