FCMB Group Plc Announces Delay in Release of 9M15 Results due to its Interim Audit
FCMB Group Plc Announces a Delay in the Release of its Nine-Months 2015 Results, due to its Interim Audit
LAGOS, NIGERIA – 22 October 2015: FCMB Group Plc (Bloomberg: FCMB) announces that its nine-months ended 30 September 2015 (3Q15) Results will be delayed due to its interim audit.
FCMB Group Plc would like to inform the investment community, of the commencement of the interim audit of First City Monument Bank Ltd as at 30 September 2015, by KPMG, the bank’s auditors. For this reason, the 3Q15 results will be delayed.
The Audited Results will be released on the Nigerian Stock Exchange and to the investment community upon conclusion of KPMG’s audit. As always, please do not hesitate to contact the investor relations team if you have any enquiries.
FROM: FCMB GROUP PLC.
For further information, please contact:
Ori Rewane: Head - Investor Relations, FCMB Group Plc
Tel: +234 (0) 1 279 3030 and +234 (0) 1 279 30 33
Patrick Iyamabo: Chief Financial Officer, FCMB Group Plc
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Notes to editors:
About FCMB Group Plc
FCMB Group Plc’s roots date back to 1977, with the formation of City Securities Limited (CSL), a stockbroking and issuing house and registrar business. CSL rapidly climbed the league of issuing houses and brokers between 1977 and 1982, handling the listings and initial public offers of many of the leading blue-chip companies on the Nigerian Stock Exchange (NSE). First City Merchant Bank Limited was established in 1982 with seed capital from the success of CSL. It began operations as a licensed deposit taker and merchant bank on 11 August 1983 assuming the corporate finance and issuing house activities of CSL and becoming the first Nigerian merchant bank to be established without government or international support. First City Merchant Bank Limited soon became a leading merchant bank in Nigeria, as measured by profitability, and, in 2000, the first and only merchant bank to achieve N1 billion profit. With the advent of universal banking in 2001, First City Merchant Bank Limited converted into a universal bank. It changed its name to First City Monument Bank Limited and commenced commercial banking activities, while its corporate finance activities were spun-off into a new subsidiary – FCMB Capital Markets Limited.
In 2004, the bank changed status from a private limited liability company to a public limited liability company, and was listed on the NSE in December of that year. In 2010, the Central Bank of Nigeria (CBN) issued Regulation 3 (Scope of Banking Activities and Ancillary Matters, No. 3, 2010), which required banks to divest their non-banking businesses or retain them under a CBN-approved financial group structure. As a result of this reorganisation, the newly created FCMB Group Plc became the holding company, with First City Monument Bank Plc (FCMB Plc), CSL Stockbrokers Limited (CSLS) and FCMB Capital Markets Limited (FCMB-CM) as direct subsidiaries. Shareholders of FCMB Plc were also migrated to FCMB Group Plc via a one-for-one share exchange between FCMB Group Plc and FCMB Plc. FCMB Plc, the bank, was thereafter re-registered as a limited liability company, becoming First City Monument Bank Limited (FCMB Limited). In 2014, CSL Trustees Limited also became a direct subsidiary of FCMB Group Plc.
FCMB Group Plc is listed on the Nigerian Stock Exchange (NSE) with the ticker symbol (FCMB) and has 19,802,710,781 ordinary shares held by approximately 523,270 shareholders. FCMB Group Plc and its subsidiaries each function as separate and distinct operating companies with separate Boards of Directors and Executives.
FCMB Group Plc’s vision is to be the premier financial services group of African origin. At the centre of its businesses lies a talented work-force that drives a comprehensive bouquet of financial services including micro-lending, asset management, stock-broking, trusteeship and custodial services, foreign exchange, personal banking, corporate and commercial banking, investment banking (including financial advisory, debt & equity capital markets, project & structured finance transactions) and transaction banking products delivering cash management, trade and liquidity management solutions to corporate, commercial, public sector, financial institutions and small & medium-scale enterprises.
First City Monument Bank Limited has 2.8 million customers and 248 branches and cash-centres spread across every state of the Federal Republic of Nigeria and in the United Kingdom through FCMB UK (which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom).
More information can be found at www.fcmbgroupplc.com
FCMB Group Plc, First City Plaza, 44 Marina, Lagos, Nigeria.
Tel: +234 (0) 1 279 3030 and +234 (0) 1 279 30 33.