FIRST Capital Bank (FCB) says it seeks to diversify its loan portfolio, which saw significant growth in agriculture lending last year, to ward off risk.
The bank is also targeting new credit lines worth US$90 million.
FCB managing director Ciaran McSharry told The Financial Gazette after an analyst briefing that there were other areas with potential for growth besides agriculture.
“We have a broad cross-sector portfolio of loans but the biggest growth in the last year has been in the agriculture sector. Its share of the portfolio has grown from 16 to 21 percent. But in a couple of areas we are not as big as we would like but we will continue to focus on those. Some of those are mining and energy. Those are the areas where there are opportunities in the future,” McSharry said.
The group posted a 42 percent increase in total income, growing from $25,9 billion in 2021 to $36,7 billion in 2022.
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