AfriPulse
FCMB Group Plc (NGX: FCMB) has announced its audited financial results for the year ended December 31, 2025, and its unaudited results for the first quarter ended March 31, 2026.
For the 2025 financial year, the Group’s profit before tax rose by 81% year-on-year to N202.1 billion, from N111.9 billion in 2024, while profit after tax increased by 142% to N177.3 billion, leading to an improvement in return on equity to 23.2%.
The strong earnings momentum continued into the first quarter of 2026, with profit before tax and profit after tax increasing by 148% and 137%, respectively, to N87.0 billion and N76.5 billion.
All business divisions recorded double-digit growth and contributed positively to profitability during the period.
In 2025, the banking subsidiary grew profit before tax by 110% to N163.3 billion, while the consumer finance, investment management, and investment banking businesses recorded profit growth of 107%, 29%, and 90%, respectively.
In the first quarter of 2026, profit growth across the divisions stood at 97% for banking, 99% for consumer finance, 54% for investment management, and 322% for investment banking.
The 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 by 42.5% to N1.13 trillion in 2025, largely driven by a 61.7% growth in interest income and a 17.3% increase in earning assets, which rose 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.
Customer confidence in FCMB remained strong. Current and savings account balances grew by 17%, increasing by N420.5 billion during 2025, and further rose by 15% to N433.5 billion in the first quarter of 2026.
Total customer deposits increased by 2.8% in 2025 and 5.8% in the first quarter of 2026, as the low-cost deposit mix improved from 65.4% to 71.1%.
Net interest income grew by 124.5% to N505.9 billion in 2025, from N225.3 billion in 2024, driven by an increase in net interest margin to 9.5%, from 6.3%.
This momentum continued into 2026, with net interest margin rising further to 10.7% in the first quarter.
Alongside stronger revenue generation, the Group improved operating efficiency, with its cost-to-income ratio declining 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 by 8.2% to N7.63 trillion at the end of 2025, from N7.05 trillion a year earlier, and grew further by 4.4% to N7.96 trillion as of March 31, 2026, reflecting the Group’s focus on balance sheet efficiency and optimisation.
The Group also maintained a disciplined approach to lending while expanding support for consumers and small businesses.
Loans and advances to customers increased by 0.4% to N2.37 trillion in 2025, while consumer and SME lending rose by 24% to N930 billion.
Total loans and advances stood at N2.23 trillion at the end of the first quarter of 2026.
Assets under management maintained a strong growth trajectory, rising by 24.2% to N1.70 trillion at the end of 2025, from N1.37 trillion in 2024.
This further grew by 10.1% to N1.88 trillion as of March 2026, supported by continued market share gains by FCMB Pensions and FCMB Asset Management.
The Group recorded a 21.4% increase in total equity to N835.4 billion at the end of 2025.
Total equity rose further to N1.14 trillion as of March 2026, up 36.5%, supported by retained earnings and additional capital raised through the Group’s 2025 public offer.
The Group’s capital adequacy ratio stood at 26.95% as of March 2026, providing a strong capital buffer to support future growth.
FCMB Group proposed a dividend of 35 kobo per share.
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.”
FCMB Group Plc is a financial services group headquartered in Lagos, Nigeria, with operating companies divided into four business groups: Banking Group (First City Monument Bank Limited, FCMB (UK) Limited, and FCMB Microfinance Bank Limited); Consumer Finance (Credit Direct Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); and Investment Management (FCMB Pensions Limited, FCMB Asset Management Limited, and FCMB Trustees Limited).
Listed on the Nigerian Exchange (NGX) with the ticker symbol FCMB, FCMB Group Plc has 65,954,593,274 ordinary shares held by more than 620,000 shareholders.
First City Monument Bank Limited, the flagship company, serves about 15 million customers through 205 branches across Nigeria and operates a banking subsidiary in the United Kingdom through FCMB Bank (UK) Limited, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom.
Source: FirstWeeklyMagazine | Read the Full Story…
