FCMB Group Plc has reported a 99 per cent year-on-year increase in profit before tax (PBT) to N157.3 billion for the half-year ended June 30, 2026, driven by strong performance across its banking and non-banking businesses.
According to the group’s unaudited financial results released on the Nigerian Exchange, profit before tax nearly doubled from N79.1 billion recorded in the corresponding period of 2025.
Gross earnings also rose by 27.8 per cent to N676.2 billion, compared with N529.2 billion in the first half of 2025. The growth was supported by a 31 per cent increase in interest income and a 22 per cent expansion in earning assets, which grew from N4.90 trillion to N5.98 trillion.
All four of FCMB Group’s business divisions recorded significant profit growth during the review period.
Consumer Finance led the performance with a 92 per cent increase in profit before tax, followed by the Banking Group at 80 per cent, Investment Banking at 76 per cent, and Investment Management at 50 per cent.
Group Chief Executive Ladi Balogun said the results reflected the strength of the company’s recapitalised and diversified business model.
He noted that record profitability was achieved despite efforts to normalise asset quality in line with regulatory requirements, adding that expanding net interest margins, improved low-cost deposits, disciplined cost management and stronger contributions from non-banking businesses enhanced the quality of earnings.
Balogun also expressed confidence that the group remains on course to achieve a Return on Equity (RoE) of more than 25 per cent for the 2026 financial year.
FCMB’s digital businesses, including payments, lending and wealth management, generated N89.1 billion in revenue during the first half of the year, up from N73.6 billion in the same period of 2025. The segment accounted for 13.2 per cent of the group’s gross earnings.
Total assets increased by 9.5 per cent to N8.36 trillion, while loans and advances to customers rose 5.2 per cent to N2.49 trillion, supported by growth in retail, SME, consumer and foreign currency lending.
Customer deposits climbed 11.4 per cent to N4.92 trillion, with low-cost deposits improving to 74.9 per cent of the total deposit base. This contributed to a 2.7 per cent decline in interest expenses compared with the previous year.
The group’s total equity expanded by 40.3 per cent to N1.17 trillion, driven by retained earnings and an additional capital injection of approximately N227 billion during the second quarter of 2026.
FCMB also reported a Capital Adequacy Ratio of 23.5 per cent, reflecting a stronger capital position.
Assets under management grew by 14.3 per cent to N1.95 trillion, supported by continued expansion in the group’s pensions and asset management businesses.
FCMB said its non-banking businesses contributed 26 per cent of total profit before tax during the period, with earnings from the segment surging 185 per cent year-on-year to N40.7 billion.
The group said the performance highlights the success of its strategy to diversify revenue sources beyond traditional banking operations.
