FCMB Group’s profit rises 81% to N202bn

FCMB Group Plc has recorded an 81 per cent increase in its Profit Before Tax, PBT, which hit N202.1 billion in 2025 full financial year from N111.9 billion recorded in 2024.

The company disclosed this in its audited financial results for the year ended December 31, 2025 released yesterday alongside its unaudited results for the first quarter ended March 31, 2026.

The company also recorded 142 per cent increase in profit after tax which increased to N177.3 billion, leading to improvement in Return on Equity to 23.2 per cent.

This trend continued in the first quarter of 2026, with 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 company disclosed 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, resulting in growth in net interest income and return on equity.

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

The same drivers supported a strong start to 2026, with gross revenue growing by 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 declined 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 March 31, 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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