FCMB Group Reports 81% Growth in Profit

By Babatunji Wusu| FCMB Group Plc has reported an 81 per cent increase in Profit Before Tax (PBT) for the 2025 financial year, with earnings rising to N202.1 billion from N111.9 billion recorded in 2024.

The strong performance was disclosed in the Group’s audited financial results for the year ended December 31, 2025, released alongside its unaudited first-quarter results for 2026.

According to the report, FCMB financial results also showed a 142 per cent increase in Profit After Tax, which rose to N177.3 billion. The growth contributed to an improvement in the Group’s Return on Equity, which climbed to 23.2 per cent.

The positive momentum continued into 2026, with first-quarter figures showing Profit Before Tax and Profit After Tax increasing by 148 per cent and 137 per cent, respectively, to N87.0 billion and N76.5 billion.

The Group attributed the performance partly to the success of its banking subsidiary, First City Monument Bank Ltd., which benefited from proceeds generated through its 2024 capital raise and improved yields on earning assets. This contributed to higher net interest income and stronger returns.

The FCMB financial results revealed that gross revenue grew by 42.5 per cent to N1.13 trillion in 2025. The increase was driven mainly by a 61.7 per cent rise in interest income and a 17.3 per cent growth in earning assets, which expanded from N4.18 trillion to N4.90 trillion.

The trend continued in the first quarter of 2026, with gross revenue increasing by 26.7 per cent to N320.2 billion, compared to N252.7 billion recorded during the same period in 2025.

The Group also improved operational efficiency, with its cost-to-income ratio declining to 53.8 per cent from 59.9 per cent. Total assets rose by 8.2 per cent to N7.63 trillion by the end of 2025 and further increased to N7.96 trillion as of March 31, 2026.

Commenting on the performance, Group Chief Executive Ladi Balogun said the FCMB financial results reflect the strength of the company’s diversified business model, improved efficiency and commitment to delivering value to customers and shareholders.