FCMB Group records highest profit ever at N177 billion

Mid-tier bank FCMB Group announced on Monday that its net profit jumped by 147.7 per cent to a record high, thanks to a strong rise in interest income, which is its main revenue source.

After-tax profit rose to N177.3 billion, up from N73.3 billion last year. This information comes from its audited earnings report submitted to the Nigerian Exchange.

Following these results, shares in the financial services group increased by 7.6 per cent on Lagos’ Customs Street as of 11:30 WAT.

FCMB Group operates in areas like asset management, pensions, trusteeship, and microfinance, in addition to its main commercial banking business.

The board of directors has suggested a cash dividend of N0.35 per share. This could mean a total payout of N23.1 billion. Last year, the dividend per share was N0.55 for the 2024 financial year.

Gross earnings for the period grew by 42.5 per cent to N1.1 trillion. Net interest income, which shows the profit from what lenders earn on loans minus what they pay on deposits, surged by 124.5 per cent to N505.9 billion.

To boost revenue, net fee and commission income rose by 30.4 per cent to N76.7 billion. This increase is due to higher service fees, commissions, and account maintenance fees.

The group set aside N81.7 billion to cover bad loans and other impaired assets. This is up from N41.2 billion put aside for the same purpose last year.

Profit before minimum tax and income tax increased by 80.6 per cent to N200.9 billion, compared to N112.1 billion last year.

Total assets as of 31 December 2025 reached N7.6 trillion, up from N7.1 trillion, mainly due to a significant rise in investment securities.

FCMB Group also shared its first quarter earnings results on Monday. Profit after tax jumped to N76.5 billion, up from N32.2 billion. Gross earnings for that period rose by 26.7 per cent to N320.2 billion.