FCMB, based in the commercial capital,
"Our preferred source of funding has been the loan markets as opposed to bond markets due to more stable pricing," he said.
"We will probably get to about 40 per cent of our loan book being personal lending."
The CEO said FCMB plans to increase its loan book by about 20 per cent to N540 billion (
The lender acquired
The bank is targeting a return on equity of 15 per cent this year and 20 per cent in 2016 compared with 13 per cent in 2013, Balogun said. FCMB plans to increase its customer base to four million by 2016 from 2.5 million, he added.
FCMB's profit rose 21 per cent to N5.05 billion in the three months through March from a year earlier, the company said in April.
Shareholders of the group had approved a total dividend of N5.94 billion earlier recommended by the directors for the 2013 financial year. This translated to a cash dividend of 30 kobo per ordinary share, for the year ended
The Coordinator of
The Chairman of
He attributed this to the implementation of initiatives that have improved efficiency and the successful integration of
Long added: "The intention to pay dividend signifies the desire of the Board to reward the Group's shareholders for their continued commitment and support."
On his part, the Managing Director of
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