FCMB Group Reports ₦202.1 Billion Profit Before Tax for 2025, ₦87.0 Billion in Q1 2026
FCMB Group Plc (NGX: FCMB) has announced its audited financial results for the year ended Dec.
FCMB Group Plc (NGX: FCMB) has announced its audited financial results for the year ended Dec. 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 81% year-on-year to ₦202.1 billion from ₦111.9 billion in 2024, while profit after tax increased 142% to ₦177.3 billion, leading to Return on equity improving 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 ₦87.0 billion and ₦76.5 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 ₦163.3 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 was 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 42.5% to ₦1.13 trillion in 2025, largely driven by a 61.7% growth in interest income and a 17.3% growth in earning assets, which grew from ₦4.18 trillion to ₦4.90 trillion. The same drivers supported a strong start to 2026, with gross revenue growing by 26.7% to ₦320.2 billion in the first quarter, compared with ₦252.7 billion in the corresponding period of 2025.
Customer confidence in FCMB remained strong. Current and savings account balances grew 17% by ₦420.5 billion during 2025 and a further 15% by ₦433.5 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 low-cost deposit mix improved from 65.4% to 71.1%.
Net interest income grew by 124.5% to ₦505.9 billion in 2025 from ₦225.3 billion in 2024, driven by a growth in net interest margin to 9.5% from 6.3%. This momentum continued into 2026, with net interest margin growing further to 10.7% in the first quarter.
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 ₦7.63 trillion at the end of 2025 from ₦7.05 trillion a year earlier and grew a further 4.4% to ₦7.96 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 0.4% to ₦2.37 trillion in 2025, while consumer and SME lending rose 24% to ₦930 billion. Total loans and advances stood at ₦2.23 trillion at the end of the first quarter of 2026.
Assets under management maintained a strong growth trajectory, growing 24.2% to ₦1.70 trillion at the end of 2025 from ₦1.37 trillion in 2024. This further grew by 10.1% to ₦1.88 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 ₦835.4 billion at the end of 2025. Total equity rose further to ₦1.14 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 along four business groups – The Banking Group (First City Monument Bank Limited (‘The Bank’), 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 Stock Exchange (NSE) with the ticker symbol (FCMB), FCMB Group Plc has 65,954,593,274 ordinary shares held by over 620,000 shareholders.
First City Monument Bank Limited, the flagship company, has about 15 million customers and 205 branches in Nigeria and 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).
