Here is a Fact Behind The Figures presentation by FCMB’s MD, Ladi Balogun.

Some highlights:

-The company believes that the sub-Saharan region is well placed to withstand the worsening global environment.
-CBN has directed all banks to streamline their financial year ends to December 31st. This will heighten competition and favours the dynamic and differentiated banks like FCMB.
-Bank is focussed on value opportunities with high growth margins such as investment banking, consumer banking and trade and cash management.
-Bank will attempt to increase bank accounts since there is a low bank penetration – there are only 16 million bank accounts in Nigeria.
-Bank will be investing over N700m to deploy an improved technology platform by October ’08.
-Only 3% non-performing loans on book compared to the industry average of 7.3%.
-Bank to launch the FCMB Pan African Hedge Fund.