FCMB Group Plc has reported a profit before tax (PBT) of N202.10 billion for the financial year ended December 31, 2025, representing an 80.61% year-on-year increase from the N111.90 billion recorded in 2024.
The strong performance was driven primarily by a surge in interest income, improved net interest margins, and growth in fee-based revenues.
Key highlights (FY 2025 vs FY 2024)
| Metric | FY 2025 | YoY Change |
| Gross Earnings | N1.132 trillion | +42.46% |
| Interest Income | N1.005 trillion | +61.68% |
| Net Interest Income | N505.91 billion | +124.55% |
| Net Impairment Losses | N81.71 billion | +98.12% |
| Net Fee & Commission Income | N76.65 billion | +30.37% |
| Operating Profit | N200.91 billion | +79.19% |
| Profit After Tax | N177.27 billion | +141.72% |
| Earnings Per Share | N3.99 | +67.65% |
| Total Assets | N7.63 trillion | +8.18% |
| Customer Deposits | N4.42 trillion | +2.84% |
| Shareholders’ Funds | N835.43 billion | +21.40% |
The Board also proposed a dividend of 35 kobo per share, amounting to N23.08 billion, subject to shareholder approval at the company’s Annual General Meeting.
What drove the performance?
The group’s earnings growth was largely fueled by a record year for interest income.
- Interest income crossed the N1 trillion mark for the first time, reaching N1.005 trillion.
- Interest income accounted for approximately 89% of total gross earnings.
- Net interest income more than doubled to N505.91 billion, reflecting a widening spread between lending yields and funding costs.
Loans remained the biggest earnings contributor
Loans and advances to customers generated:
- N611.63 billion in interest income.
- About 60.84% of total interest income.
Although the share of lending income declined relative to 2024, the loan portfolio remained FCMB’s largest revenue source.
Treasury placements and liquid assets delivered standout growth
One of the most notable developments during the year was the sharp increase in returns from cash and treasury placements.
- Interest income from cash and cash equivalents surged to N145.33 billion.
- This compares with N12.80 billion recorded in 2024.
- The contribution of liquid assets to total interest income increased from 2.06% to 14.46%.
This reflects the high-interest-rate environment and attractive yields available on short-term government and money-market instruments during the year.
Investment securities also boosted earnings
Income from investment securities remained a significant contributor:
- Amortized-cost securities generated N148.90 billion, up 35.67%.
- FVOCI securities generated N99.46 billion, up 50.61%.
Combined, investment securities contributed approximately N248.37 billion, accounting for nearly 25% of total interest income.
Rising costs but stronger margins
Interest expenses increased to N499.42 billion from N396.50 billion as funding costs remained elevated across the banking sector.
However, interest income grew much faster than funding costs, enabling FCMB to expand profitability significantly.
Fee income remains resilient
The group also recorded solid growth in non-interest income.
- Net fee and commission income rose to N76.65 billion.
- Gross fee and commission income increased by 31.74% to N97.89 billion.
This highlights continued activity across transaction banking, payments, digital channels, and other service-based offerings.
Trading income weakens
Not all business lines posted growth.
- Net trading income declined to N37.79 billion from N53.79 billion.
- The group recorded other losses of N12.12 billion, compared with gains of N39.56 billion in 2024.
Despite these declines, the strength of FCMB’s core banking operations more than compensated for weaker trading-related earnings.
What investors should know
The results demonstrate FCMB’s ability to benefit from Nigeria’s high-interest-rate environment through:
- Strong loan-book earnings.
- Improved treasury and liquidity management returns.
- Growing fee-based revenues.
- Enhanced shareholder value, reflected in higher earnings and a proposed dividend payout.
With shareholders’ funds rising to N835.43 billion and total assets exceeding N7.6 trillion, the group enters 2026 with a stronger capital base and improved earnings capacity as Nigeria’s banking sector continues its recapitalization drive.
