FCMB Group reports 81% profit rise, reaching N202 bn

FCMB Group Plc reported an 81 % rise in its Profit Before Tax (PBT), reaching N202.1 billion for the full 2025 financial year, up from N111.9 billion in 2024.

The figures were disclosed in the company’s audited financial results for the year ended 31 December 2025, released yesterday, together with its unaudited results for the first quarter ended 31 March 2026.

Profit after tax also surged, increasing by 142 % to N177.3 billion, which lifted the Group’s Return on Equity to 23.2 %.

In the first quarter of 2026, PBT and profit after tax climbed 148 % and 137 % respectively, to N87.0 billion and N76.5 billion.

The Group noted that its banking subsidiary, First City Monument Bank Ltd., benefited from the deployment of proceeds from its 2024 capital raise and higher yields on earning assets, leading to growth in net interest income and return on equity.

Gross revenue grew 42.5 % to N1.13 trillion in 2025, driven largely by a 61.7 % increase in interest income and a 17.3 % rise in earning assets, which moved from N4.18 trillion to N4.90 trillion.

These same drivers supported a strong start to 2026, with gross revenue up 26.7 % to N320.2 billion in the first quarter, compared with N252.7 billion in the corresponding period of 2025.

Alongside stronger revenue generation, the Group improved operating efficiency. Its cost‑to‑income ratio fell to 53.8 % by the end of 2025 from 59.9 %. These gains were supported by continued investments in people, technology and business expansion.

Total assets increased 8.2 % to N7.63 trillion at the end of 2025 from N7.05 trillion a year earlier and grew a further 4.4 % to N7.96 trillion as of 31 March 2026, reflecting the Group’s focus on balance‑sheet efficiency and optimisation.

Commenting on the results, Group Chief Executive Ladi Balogun said: “These results reflect the strength of our diversified business model and disciplined execution. We grew earnings, improved efficiency and strengthened our balance sheet while continuing to support customers and create value for shareholders. Our strong start to 2026 positions us well to sustain growth across the Group.”

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