FCMB Group Plc posted a profit before tax (PBT) of ₦79.3 billion for the first half of 2025, representing a 23% increase year-on-year. This growth was driven mainly by a significant rise in net interest income and improved asset yields. Gross revenue increased by 41.3% to ₦529.2 billion, boosted by a 70.3% jump in interest income, although non-interest income fell due to lower currency revaluation gains.
The Group’s digital business showed strong momentum, with digital revenues growing 60% to ₦73.6 billion, now accounting for nearly 14% of total earnings. Net interest income almost doubled to ₦207.4 billion, helped by a yield on earning assets of 20.2% and a net interest margin that rose to 9.1%. Despite a 46.1% increase in operating expenses driven by higher personnel and technology costs, the Group improved its cost-to-income ratio from 59.9% to 57%.
Profit growth came from multiple divisions: Consumer Finance saw PBT rise 54.5%, Banking Group increased by 41.3%, and Investment Management grew by 10%. Investment Banking declined by nearly 49% due to last year’s exceptional one-time gains. The Banking Group remains the largest contributor, accounting for 82% of overall PBT. The Group also expanded its total assets to ₦7.54 trillion and increased customer deposits by 5.6%, supported by a higher share of low-cost deposits.
Loans and advances grew modestly by 1.1%, impacted by currency effects and loan write-offs. Assets under management rose 15.5% to ₦1.58 trillion. FCMB’s investment banking arm reported a remarkable 600% increase in capital raised for clients, reaching nearly ₦3 trillion. Improved deposit mix and capital deployment helped reduce funding costs and boost net interest margins in the second quarter.
Looking forward, FCMB Group is focused on sustaining its earnings momentum by expanding digital and retail businesses while maintaining capital adequacy. The Central Bank of Nigeria has confirmed the completion of the second phase of the Group’s public capital raise, ensuring compliance with new minimum capital requirements to retain its international banking license.