Earnings Report /

FCMB Group: Q3 21 earnings surprise on lower risk costs, upgrade to Buy

  • The holding group reported a 42% growth in after tax profits, well ahead of our expectation for a 29% drop

  • The group's cost management continues to be a concern, with Q3 cost to income ratio north of 70%

  • We upgrade FCMB to Buy after share price dip, we like ongoing efforts to drive customer acquisition via digital channels

Busola Jeje
Busola Jeje

Research Analyst

Tellimer Research
30 November 2021
Published by