Modupe Gbadeyanka
By Modupe Gbadeyanka
A total of N3.27 billion was gained as collective profit after tax (PAT) from securities operations, pension and asset management in 2016 by FSDH Merchant Bank Limited. This was 20.05 percent short of what was achieved in 2015, N4.09 billion.
At the pre Annual General Meeting (AGM) of the financial institution in Lagos on Friday, the company said in the year under review, FSDH Group’s total assets stood at N141.3 billion and its shareholders’ funds stood at N27.87 billion.
It was said that the profit before tax of the firm depreciated to N3.87 billion in 2016 from N7.72 billion in 2015.
In the figures reeled out by the company, it was revealed that FSDH Asset Management (FSDH-AM) contributed a PAT of N319.54 million to the group, while Pension Alliance Limited (PAL) made N988.39 million.
Also, FSDH Securities (FSDH-SEC) contributed about N47.38 million to the PAT of the group,” the merchant bank stated.
