FCMB Group Plc has announced its financial results for the first quarter of 2023, demonstrating the continued success of its digital banking initiatives across various business segments.
Digital banking initiatives have gained significant traction within FCMB Group, contributing to its overall performance. In the first quarter, digital revenues accounted for 12.0% of gross earnings, equivalent to N10.0 billion. This substantial growth highlights the Group’s commitment to leveraging digital solutions to enhance customer experiences and drive financial inclusion.
The impact of digitalization was evident across FCMB Group’s various business lines. In terms of interest income, digital revenues accounted for 8.0% (₦5.2 billion), reflecting customers’ increasing adoption of digital banking services. Furthermore, digital initiatives contributed 6.4% (₦76.3 billion) of the loan book, showcasing the Group’s focus on digital lending solutions.