FCMB Group Plc has demonstrated a strong financial performance in the first half of 2025, with a 23% growth in Profit Before Tax (PBT) to N79.3 billion, driven by improving Net Interest Margins (NIM). The bank’s gross revenue surged to N529.2 billion, a 41.3% increase from N374.5 billion in the same period last year, primarily due to a 70.3% growth in interest income.
The bank’s net interest income grew by 95.3% to N207.4 billion, resulting in a growth in Net Interest Margin to 9.1% from 6.3% in FY 2024. This improvement in NIM suggests efficient management of interest-earning assets and funding costs. Digital business also showed strong growth, contributing 13.9% to gross earnings, with digital revenues growing 60% Year-on-Year to N73.6 billion.
However, the bank’s operating expenses increased by 46.1% Year-on-Year to N153.2 billion, due to increased personnel costs, regulatory costs, and general inflationary pressures. Despite this, the cost-to-income ratio improved to 57% from 59.9% in FY 2024, indicating better efficiency.
The bank’s asset quality showed some concerns, with a net impairment loss of N36.2 billion, up 180% QoQ, due to the Nigerian Banking subsidiary exiting the CBN loan forbearance. This resulted in a growth in cost of risk to 2.8% from 1.8% in FY 2024.
FCMB’s divisional performance highlights the Banking Group as the dominant driver, contributing 82% of PBT, with a 41.3% Year-on-Year growth. Consumer Finance contributed 11.6% of PBT, with a 54.5% Year-on-Year growth, while Investment Management and Investment Banking contributed 4.8% and 1.4%, respectively.
The bank’s balance sheet strength is evident, with total assets increasing by 6.9% to N7.54 trillion, and customer deposits growing by 5.6% to N4.55 trillion. Loans and advances also grew by 1.1% to N2.38 trillion.
Overall, FCMB’s financial performance in the first half of 2025 demonstrates its strong operational momentum and strategic positioning within Nigeria’s financial sector. The bank’s diversified revenue structure, strengthened capital position, and focus on innovation and digital transformation position it well for sustainable growth and competitiveness in the long term
