FCMB Group Plc is experiencing a notable surge on the Nigerian Exchange (NGX), capturing growing attention from both retail and institutional investors. As of 23 February 2026, FCMB shares trade at ₦12.35 per share, up from a 52-week low of ₦8.35, signaling renewed market confidence in the bank’s strategic direction and earnings potential.
The rising investor interest comes amid a broader wave of recapitalization and strategic shifts within Nigeria’s banking sector. Market watchers note that banks with clear growth strategies and diversified revenue streams are attracting heightened scrutiny, positioning FCMB as a strong contender in the mid-tier banking segment.
FCMB’s multi-subsidiary approach, spanning commercial banking, consumer finance, asset management, and investment banking, reinforces its resilience. Analysts suggest this structure enables the bank to withstand sector pressures while exploring growth opportunities across different financial services.
Valuation also plays a key role in investor appeal. FCMB trades at a Price-to-Book Value (P/BV) of 0.6x, considerably lower than peers such as Fidelity Bank (1.0x), Sterling Bank (1.0x), and Wema Bank (1.7x). This discount makes the stock accessible for new investors while offering potential upside as the bank continues to execute on its capital and earnings plans.
The bank’s focus on high-growth areas — including SME banking, digital innovation, renewable energy financing, and women-focused initiatives like SheVentures — aligns with key segments of Nigeria’s economy. While market conditions carry inherent risks, FCMB is increasingly recognized as a stock worth monitoring for investors seeking exposure to Nigeria’s evolving banking landscape.
source: africanbusiness