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FCMB Group Plc has reported a strong financial performance for the 2025 financial year and the first quarter of 2026, with profit before tax rising to N202.1 billion in 2025 and N87 billion in the first three months of 2026, driven by growth across its banking, consumer finance, investment management and investment banking businesses.
The financial services group announced in its audited 2025 results and unaudited first-quarter 2026 performance that profit before tax increased by 81 per cent to N202.1 billion from N111.9 billion recorded in 2024. Profit after tax surged by 142 per cent to N177.3 billion, while return on equity improved to 23.2 per cent. The momentum continued into 2026, with profit before tax climbing 148 per cent to N87 billion in the first quarter, compared to the corresponding period of 2025. Profit after tax also rose by 137 per cent to N76.5 billion.
The group said all its business divisions recorded double-digit profit growth during the review period. Its banking subsidiary posted a 110 per cent increase in profit before tax to N163.3 billion in 2025, while consumer finance, investment management and investment banking businesses recorded profit growth of 107 per cent, 29 per cent and 90 per cent respectively.
In the first quarter of 2026, profit growth across the divisions stood at 97 per cent for banking, 99 per cent for consumer finance, 54 per cent for investment management and an impressive 322 per cent for investment banking.
FCMB attributed the strong performance of its banking arm, First City Monument Bank Limited, to the effective deployment of proceeds from its 2024 capital raise as well as improved yields on earning assets, which boosted net interest income and returns.
Gross revenue for 2025 rose by 42.5 per cent to N1.13 trillion, supported by a 61.7 per cent increase in interest income and a 17.3 per cent growth in earning assets, which expanded from N4.18 trillion to ₦4.90 trillion.
The growth trend was sustained in the first quarter of 2026 as gross revenue increased by 26.7 per cent to N320.2 billion from N252.7 billion recorded in the same period of 2025.
Customer deposits and savings also strengthened during the period. Current and savings account balances grew by 17 per cent, equivalent to N420.5 billion, in 2025 and increased by a further 15 per cent or N433.5 billion in the first quarter of 2026. Total customer deposits rose by 2.8 per cent in 2025 and by 5.8 per cent in the first quarter of 2026, while the share of low-cost deposits improved from 65.4 per cent to 71.1 per cent.
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Net interest income more than doubled, rising by 124.5 per cent to N505.9 billion in 2025 from N225.3 billion in 2024. Net interest margin improved to 9.5 per cent from 6.3 per cent and further increased to 10.7 per cent in the first quarter of 2026.
The group also recorded improved operating efficiency, with its cost-to-income ratio declining to 53.8 per cent from 59.9 per cent a year earlier, reflecting gains from investments in technology, talent and business expansion.
Total assets increased by 8.2 per cent to N7.63 trillion at the end of 2025 and rose further to N7.96 trillion as of March 31, 2026. Total equity climbed by 21.4 per cent to N835.4 billion in 2025 and expanded to ₦1.14 trillion by the end of the first quarter of 2026, supported by retained earnings and fresh capital raised through the group’s 2025 public offer.
Assets under management also maintained strong growth, increasing by 24.2 per cent to N1.70 trillion in 2025 before rising further to N1.88 trillion in the first quarter of 2026.
The group’s capital adequacy ratio stood at 26.95 per cent as of March 2026, while the board proposed a dividend of 35 kobo per share for shareholders.
Commenting on the performance, Group Chief Executive Officer, Ladi Balogun, said the results demonstrated the resilience of the group’s diversified business model.
“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,” he said.
FCMB Group is one of Nigeria’s leading financial services holding companies, with interests spanning banking, consumer finance, investment banking and asset management. The group serves about 15 million customers through its flagship banking subsidiary and a network of more than 200 branches across Nigeria.
