FCMB Group Plc (NGX: FCMB) has reported a 99% year-on-year increase in profit before tax (PBT) to ₦157.3 billion for the six months ended June 30, 2026, from ₦79.1 billion in the corresponding period of 2025, extending the strong earnings momentum recorded in the 2025 financial year.
According to the unaudited results released on the Nigerian Exchange (NGX), all four business divisions posted strong profit growth. Consumer Finance recorded a 92% increase in PBT, while the Banking Group grew by 80%, Investment Banking by 76%, and Investment Management by 50%.
Gross earnings rose by 27.8% to ₦676.2 billion from ₦529.2 billion in the first half of 2025, driven by a 31% increase in interest income and a 22% growth in earning assets, which expanded to ₦5.98 trillion from ₦4.90 trillion.
Annualised earnings per share (EPS) increased to ₦4.23, compared with ₦3.96 for the full-year 2025, despite the larger share base following the Group’s recapitalisation.
Commenting on the results, FCMB Group Chief Executive, Ladi Balogun, said the performance reflected the strength of the Group’s recapitalised and diversified business model.
He said the Group delivered record profitability while accelerating the normalisation of asset quality in line with regulatory requirements, strengthening its balance sheet for long-term growth. According to him, expanding net interest margins, a stronger low-cost deposit base, disciplined cost management and higher contributions from non-banking businesses continue to improve the quality and sustainability of earnings.
Balogun added that the Group remains on course to achieve a return on equity (RoE) of more than 25% for the 2026 financial year.
FCMB’s digital businesses payments, lending and wealth management continued to expand during the period, with digital revenue rising to ₦89.1 billion from ₦73.6 billion a year earlier. The segment accounted for 13.2% of gross earnings, supported by higher transaction volumes across all three businesses.
Total assets increased by 9.5% to ₦8.36 trillion, while loans and advances to customers rose by 5.2% to ₦2.49 trillion, driven by continued growth in retail, SME, consumer and foreign currency lending.
Customer deposits grew by 11.4% to ₦4.92 trillion, with the proportion of low-cost deposits improving to 74.9%. The stronger funding mix helped reduce the cost of funds, leading to a 2.7% decline in interest expense year-on-year.
Total equity rose by 40.3% to ₦1.17 trillion, supported by retained earnings and an additional capital injection of about ₦227 billion during the second quarter of 2026. As a result, the Group’s Capital Adequacy Ratio strengthened to 23.5%, providing additional capacity to support future growth.
Assets under Management (AUM) increased by 14.3% to ₦1.95 trillion, reflecting continued market share gains by FCMB Pensions and FCMB Asset Management.
The Group’s non-banking businesses continued to play a bigger role in earnings, contributing 26% of total profit before tax. Combined profits from these businesses surged 185% year-on-year to ₦40.7 billion, highlighting FCMB Group’s growing diversification beyond traditional banking.
FCMB Group is a diversified financial services holding company with operations spanning banking, consumer finance, investment banking and investment management. Its flagship subsidiary, First City Monument Bank, serves about 15 million customers through 205 branches in Nigeria and operates a banking subsidiary in the United Kingdom. The Group is listed on the Nigerian Exchange under the ticker FCMB and has more than 620,000 shareholders.
