First City Monument Bank Plc has announced a N6.1bn group profit before tax for the nine-month period ended September 2010.
This is against the N300bn recorded in the same period previous year.
A press statement issued by the bank on Friday, said the main contributor to this was improved assets quality, culminating in a net write- back of N1.8bn in 2010, as against N12.7bn charged in the previous year.
Quarterly profitability trend also showed improvement, growing from N1.1bn in first quarter to N2.3bn and N2.6bn in second and third quarters respectively, largely due to loan growth and related income.
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