FCMB profit jumps 81% amid balance sheet growth

FCMB Group Plc has announced a significant financial performance, with its profit before tax jumping 81% to N202.1 billion for the 2025 financial year, up from N111.9 billion in 2024. This substantial growth was underpinned by increased interest income, robust expansion across its various business divisions, and enhanced operating efficiency.

The bank's profit after tax saw an even more dramatic increase, soaring by 142% to N177.3 billion. This strong financial showing reflects a healthy return on equity, which improved to 23.2%. The positive momentum has carried into the first quarter of 2026, where FCMB reported a 148% surge in profit before tax to N87 billion and a 137% rise in profit after tax to N76.5 billion.

All of FCMB's business divisions contributed to this profitability, each recording double-digit growth. The banking subsidiary, First City Monument Bank Limited, was a major driver, growing its profit before tax by 110% to N163.3 billion in 2025. The consumer finance, investment management, and investment banking segments also posted impressive gains of 107%, 29%, and 90% respectively for the full year.

Gross revenue for the group increased by 42.5% to ₦1.13 trillion in 2025, largely fueled by a 61.7% rise in interest income and a 17.3% expansion in earning assets. This growth trajectory continued into the first quarter of 2026, with gross revenue climbing 26.7% to ₦320.2 billion. The bank also saw improvements in its funding mix, with customer deposits growing and the proportion of low-cost funding increasing from 65.4% to 71.1%.