FCMB Group Plc (NGX: FCMB) has shared its financial results for the first half of 2026. The company reported a 99% increase in profit before tax, rising to ₦157.3 billion from ₦79.1 billion in the same period last year. This shows the Group's strong earnings growth from the 2025 financial year.
The six-month results released on the Nigerian Exchange Limited (NGX) showed growth in profit before tax across all four parts of the Group. Consumer Finance grew by 92%, Banking Group by 80%, Investment Banking by 76%, and Investment Management by 50%.
Gross earnings rose by 27.8% to ₦676.2 billion for the first half of 2026, up from ₦529.2 billion in the same time in 2025. This growth was driven by a 31% increase in interest income and a 22% rise in earning assets, which went from ₦4.90 trillion to ₦5.98 trillion. The Annualised Earnings Per Share (EPS) also increased to ₦4.23 in the first half of 2026 from ₦3.96 for the entire year of 2025, despite a larger share base after recapitalisation. This shows the Group’s better ability to generate earnings.
Ladi Balogun, Group Chief Executive of FCMB Group, commented on the results. He said, "Our first-half performance demonstrates the strength of our recapitalised and diversified business model. We delivered record profitability despite accelerating the normalisation of asset quality towards regulatory thresholds. This reflects our commitment to building a stronger balance sheet for long-term growth. Expanding net interest margins, an improved low-cost deposit mix, disciplined cost management, and growing contributions from our non-banking businesses continue to enhance the quality and sustainability of our earnings. We remain firmly on track to deliver a Return on Equity (RoE) of over 25% for the 2026 financial year."
The Group’s digital business, which includes Payments, Lending, and Wealth, continued to grow. Digital revenue rose to ₦89.1 billion for the first half of 2026, up from ₦73.6 billion in the first half of 2025. This contributed 13.2% of gross earnings, as volumes increased across lending, payments, and wealth services.
Total assets climbed by 9.5% to ₦8.36 trillion as of June 2026. The Group focused on managing its balance sheet well. Loans and advances to customers increased by 5.2% to ₦2.49 trillion. This growth was supported by higher-return retail, SME, and consumer lending, as well as foreign-currency loans to corporate clients.
Customer deposits grew by 11.4% to ₦4.92 trillion as of June 2026. The low-cost deposit mix improved to 74.9%, which helped reduce the cost of funds year-on-year. Interest expenses also fell by 2.7% year-on-year.
Total equity increased by 40.3% to ₦1.17 trillion. This was backed by growth in retained earnings and an additional capital injection of about ₦227 billion during the second quarter of 2026. This gave a Capital Adequacy Ratio of 23.5% for the first half of 2026, providing a solid capital base for growth.
FCMB Group’s Assets Under Management grew by 14.3% to ₦1.95 trillion at June 2026. This growth was supported by increased market share at FCMB Pensions and FCMB Asset Management.
The Group’s non-banking businesses together contributed 26% of Group profit before tax. Profits from these businesses jumped by 185% year-on-year to ₦40.7 billion, showing the Group’s effort to diversify its earnings beyond banking.
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