FCMB Group Plc has reported a profit before tax (PBT) of N202.10 billion for the financial year ended December 31, 2025, representing an impressive 80.61 per cent increase from the N111.90 billion recorded in 2024.
The group’s audited financial statements also showed that profit after tax surged to N177.27 billion from N73.34 billion in the previous year, while gross earnings rose by 42.46 per cent to N1.13 trillion, driven largely by strong growth in interest income and improved core banking operations.
Following the release of the results, the Board of Directors recommended a dividend of 35 kobo per share, amounting to N23.08 billion, subject to approval by shareholders at the company’s Annual General Meeting.
The strong earnings performance was welcomed by market analysts, who said the results demonstrated the bank’s ability to benefit from the high-interest-rate environment while maintaining balance-sheet stability despite rising operating costs and impairment charges.
A breakdown of the results showed that interest income climbed by 61.68 per cent to N1.005 trillion, marking the first time the group has crossed the trillion-naira threshold in annual interest earnings.
The growth pushed net interest income up by 124.55 per cent to N505.91 billion from N225.30 billion recorded in 2024.
Gross earnings also expanded significantly to N1.132 trillion, while operating profit increased by 79.19 per cent to N200.91 billion. Earnings per share rose to N3.99 from N2.38, reflecting a 67.65 per cent improvement.
The group’s total assets stood at N7.63 trillion at the end of the year, compared with N7.05 trillion in 2024, while shareholders’ funds increased by 21.4 per cent to N835.43 billion.
Loans and advances to customers generated N611.63 billion in interest income, accounting for approximately 61 per cent of total interest earnings.
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Although the contribution of loans to overall interest income declined slightly compared to the previous year, analysts noted that the loan portfolio continued to serve as the bank’s primary profit engine.
Interest income from cash and cash equivalents surged to N145.33 billion from N12.80 billion a year earlier, reflecting the impact of elevated yields on treasury instruments and money-market placements.
Similarly, investment securities delivered strong returns, with income from securities measured at amortised cost rising by 35.67 per cent to N148.90 billion, while earnings from fair value through other comprehensive income (FVOCI) securities increased by 50.61 per cent to N99.46 billion.
Interest expenses increased to N499.42 billion from N396.50 billion, reflecting the higher cost of attracting deposits and funding operations in a high-rate environment.
Personnel costs climbed to N107.18 billion from N79.30 billion, while general and administrative expenses increased to N135.34 billion from N87.55 billion.
Financial analysts said the higher provisions indicate a cautious stance toward potential credit risks amid ongoing macroeconomic uncertainties.
While core banking operations delivered exceptional growth, income from trading and investment activities moderated during the year. Net trading income declined to N37.79 billion from N53.79 billion recorded in 2024.
Capital market analysts said the results highlight FCMB’s successful strategy of leveraging higher interest rates to boost earnings while strengthening shareholder value.
According to banking analysts, the group’s ability to more than double net interest income demonstrates effective asset-liability management and prudent deployment of funds across loans, treasury assets and investment securities.
Analysts further noted that the modest growth in customer deposits compared to earnings growth indicates that competition for deposits remains intense across the banking sector.