FCMB Group Plc Doubles Earnings, Posts ₦177 Billion Profit in 2025

FCMB Group Plc recorded a strong financial performance for the year ended 31 December 2025, supported by robust growth in interest income and higher non-interest revenue.

Group gross earnings rose to ₦1.13 trillion, representing a 41.8 percent increase from ₦794.4 billion in 2024. Interest and discount income surged to ₦1.00 trillion, up from ₦621.8 billion amid improved asset yields and balance-sheet expansion.

Interest expense increased to ₦499.2 billion from ₦396.5 billion, resulting in net interest income of ₦502.9 billion, more than doubling the ₦225.3 billion recorded in the prior year.

At the company level, net interest income stood at ₦6.89 billion, slightly lower than ₦7.93 billion in 2024.

Non-Interest Income Moderates as Trading Gains Decline

Net fee and commission income increased to ₦73.8 billion, from ₦58.8 billion, driven by higher fee income across banking services.

However, net trading income declined to ₦39.2 billion, compared with ₦53.8 billion in 2024. Other gains turned negative at ₦11.6 billion from a gain of ₦39.6 billion in the prior year, reflecting weaker revaluation and disposal gains.

Total other income stood at ₦873.4 million, down from ₦5.0 billion.

Impairment Charges Rise Sharply

Net impairment losses on financial instruments increased significantly to ₦86.0 billion, from ₦41.2 billion, highlighting higher credit risk costs during the year amid a challenging macroeconomic environment.

This remains a key pressure point in the income statement.

Operating Expenses Increase but Earnings Absorb Cost Growth

Personnel expenses rose to ₦106.0 billion, from ₦79.3 billion, while general and administrative expenses increased to ₦127.0 billion, from ₦87.5 billion. Other operating expenses also rose to ₦68.7 billion, compared with ₦48.3 billion in 2024.

Despite the higher cost base, operating leverage remained strong. Result from operating activities increased to ₦200.2 billion, from ₦112.1 billion.

Profit More Than Doubles Year-on-Year

Profit before tax rose to ₦200.9 billion, compared with ₦111.9 billion in the prior year. After accounting for taxation, minimum tax, and windfall tax adjustments, profit for the period more than doubled to ₦176.9 billion from ₦73.3 billion.

Profit attributable to equity holders increased to ₦169.2 billion, while earnings per share rose to ₦3.96, from ₦2.46 in 2024.

Other Comprehensive Income Turns Negative

Other comprehensive income swung to a loss of ₦35.9 billion, compared with a gain of ₦30.5 billion in the prior year, largely due to foreign currency translation losses and negative fair-value movements on debt instruments measured at FVTOCI.

As a result, total comprehensive income declined to ₦141.0 billion, from ₦103.8 billion, despite stronger core profitability.

Balance Sheet Expands as Liquidity Improves

Total group assets increased to ₦7.54 trillion, from ₦7.05 trillion in 2024.

Key balance-sheet movements include:

• Cash and cash equivalents rose sharply to ₦1.30 trillion, from ₦795.4 billion

• Investment securities increased to ₦2.06 trillion, from ₦1.19 trillion

• Loans and advances to customers declined slightly to ₦2.29 trillion, from ₦2.36 trillion

On the liability side:

• Customer deposits increased to ₦4.40 trillion, from ₦4.30 trillion

• Borrowings rose marginally to ₦365.1 billion, from ₦359.9 billion

Equity Strengthens on Retained Earnings Growth

Total equity attributable to owners of the company rose to ₦822.4 billion, from ₦688.2 billion, driven mainly by retained earnings growth to ₦309.2 billion from ₦188.4 billion.

This strengthens capital buffers and supports future balance-sheet expansion.

Investors King Takeaway

FCMB Group Plc delivered a strong FY 2025 performance, marked by sharp growth in net interest income, more than doubled profit, and a strengthened balance sheet. However, rising impairment charges and higher operating costs remain key risks to monitor.

The improvement in earnings per share and equity position enhances shareholder value, positioning the group for continued growth, subject to credit quality trends and macroeconomic stability.