Mid-tier lender FCMB Group announced on Monday a 147.7 percent increase in net profit, reaching a record high, fueled by a significant rise in interest income, its main revenue source. After-tax profit climbed to N177.3 billion from N73.3 billion in the prior year, as per its audited earnings report submitted to the Nigerian Exchange. Shares of the financial services group jumped 7.6 percent on Lagos' Customs Street by 11:30 WAT following the results release.
Dividend and Financial Performance
The board of directors has proposed a cash dividend of N0.35 per share, amounting to a potential payout of N23.1 billion. This compares to the N0.55 per share dividend paid for the 2024 financial year. Gross earnings for the period rose 42.5 percent to N1.1 trillion. Net interest income, which measures the difference between interest earned on assets and interest paid on deposits, expanded by 124.5 percent to N505.9 billion.
Revenue Growth and Provisions
Net fee and commission income increased 30.4 percent to N76.7 billion, driven by higher service fees, commissions, and account maintenance fees. The group set aside N81.7 billion to cover impaired assets, mainly bad loans, compared to N41.2 billion a year earlier. Profit before minimum tax and income tax advanced 80.6 percent to N200.9 billion from N112.1 billion.
Asset Growth and Q1 Results
Total assets as of December 31, 2025, stood at N7.6 trillion, up from N7.1 trillion, supported by a sharp increase in investment securities. FCMB Group also released its first quarter earnings, showing profit after tax surged to N76.5 billion from N32.2 billion. Gross earnings for the quarter increased 26.7 percent to N320.2 billion.
FCMB Group operates in asset management, pensions, trusteeship, and microfinance, in addition to its core commercial banking business.
