Annual Report 2023

Annual Report 2023

Summary of highlights for fiscal 2023

  • Profit before tax amounted to $1.07 billion
  • Profit after tax amounted to $777 million
  • Total assets amounted to $44.8 billion
  • Standard and Poor’s investment grade rating of BBB-/A-3 with a stable outlook
  • Qualifying capital to risk adjusted assets at 18.14%

Annual Report 2022

Summary of highlights for fiscal 2022

  • Profit before tax amounted to $923 million
  • Profit after tax amounted to $734 million
  • Total assets decreased by 2.5% to $45.4 billion
  • Standard and Poor’s investment grade rating of BBB-/A-3 with a stable outlook
  • Qualifying capital to risk adjusted assets at 18.46%
First Citizens Group Financial Holdings Limited and its Subsidiaries Annual Report 2022
First Citizens Group Financial Holdings Limited and its Subsidiaries Annual Report 2021

Annual Report 2021

Summary of highlights for fiscal 2021

  • Profit before tax amounted to $902 million
  • Profit after tax amounted to $667.3 million
  • Total assets stood at $46.6 billion
  • Standard and Poor’s investment grade rating of -BBB/A- with a negative outlook
  • Capital base increased by 7.0%, moving from $7.42 billion to $7.94 billion
  • Qualifying capital to risk adjusted assets at 17.59%

Annual Report 2020

The Coronavirus has created substantial uncertainties, unfortunate circumstances and economic challenges worldwide. Be that as it may, First Citizens remains steadfast in our commitment to maintaining organizational sustainability while securing the interests of all our stakeholders. We will continue to work with our customers and support our communities through this challenging period.

Summary of highlights for fiscal 2020
  • Profit after tax – $606.9 million
  • Total assets as at September 2020 amounted to $47.4 billion, an increase of 9.4% when compared to September 2019
  • Investments grew by 3.7%, whilst there was an increase in Customer Deposits by 11.9% or $3.1 billion, to $28.9 billion
First Citizens Group Financial Holdings Limited and its Subsidiaries Annual Report 2020
First Citizens Group Financial Holdings Limited and its Subsidiaries Annual Report 2019

Annual Report 2019

Summary of highlights for fiscal 2019
  • Profit before tax increased by 5.2% from $1.01 billion to $1.06 billion
  • Profit after tax increased by 11.6% from $674 million to $752 million
  • Total assets increased from $42.0 billion to $43.4 billion
  • Standard and Poor’s investment grade rating of BBB/Stable/A-2

Annual Report 2018

Summary of highlights for fiscal 2018
  • Profit before tax of just over $1 billion or growth of 15.2%
  • Profit after tax amounted to $674 million, which represents an increase of $32 million or 5%, as compared to 2017
  • Total assets as at September 2018 amounted to $42.0 billion, an increase of 7.9% 
  • Standards and Poor’s reaffirming First Citizens ratings of BBB/A-2 in October 2018
First Citizens Group Financial Holdings Limited and its Subsidiaries Annual Report 2018
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