FCMB Group Reports ₦73.4 Billion Half-Year Profit, Gross Earnings Rise to ₦529.2 Billion

FCMB Group Plc reported a half-year profit of ₦73.4 billion for the period ended June 30, 2025, up 23.4% from ₦59.5 billion in 2024.

The Group also recorded gross earnings of ₦529.2 billion, representing a 41.3% rise from ₦374.5 billion reported in H1 2024.

Key Financial Highlights (Group)

• Gross Earnings: ₦529.2bn (H1 2024: ₦374.5bn)

• Net Interest Income: ₦207.4bn (H1 2024: ₦106.2bn)

• Net Fee and Commission Income: ₦37.9bn (H1 2024: ₦25.1bn)

• Trading Income: ₦22.2bn (H1 2024: ₦31.4bn)

• Other Gains: ₦696m (H1 2024: ₦37.1bn)

• Operating Profit: ₦79.3bn (H1 2024: ₦64.2bn)

• Profit Before Tax: ₦79.1bn (H1 2024: ₦64.2bn)

• Profit After Tax: ₦73.4bn (H1 2024: ₦59.5bn)

• Other Comprehensive Income: ₦6.9bn (H1 2024: ₦24.8bn)

• Total Comprehensive Income: ₦80.3bn (H1 2024: ₦84.3bn)

• Basic Earnings Per Share: ₦3.70 (H1 2024: ₦6.00)

Performance Drivers

• Net interest income surged 95% year-on-year to ₦207.4 billion, supported by higher yields on interest-earning assets.

• Fee and commission income increased 31% to ₦47.4 billion, reflecting higher transaction volumes and service uptake.

• Operating profit rose 23.6% to ₦79.3 billion despite increased personnel, administrative, and impairment costs.

• Profit before tax stood at ₦79.1 billion, up from ₦64.2 billion in H1 2024, highlighting strong earnings momentum.

Subsidiary Contributions

• The Group’s banking operations continued to account for the bulk of earnings, while other subsidiaries in asset management and pensions supported overall profitability.

• Non-controlling interests contributed ₦120.1 million to profit after tax.

Outlook

With the half-year results showing sustained growth in earnings and balance sheet strength, FCMB Group said it remains focused on expanding its retail and digital banking presence, driving non-interest income, and maintaining prudent risk management in the second half of 2025.