FCMB Group Plc has posted a profit before tax (PBT) of N157.3 billion for the half-year ended June 30, 2026, representing a 99 per cent increase from N79.1 billion recorded in the corresponding period of 2025.
The unaudited financial results released on the Nigerian Exchange Limited (NGX) underscore the Group’s sustained earnings momentum following its strong performance in the 2025 financial year, with all four business divisions delivering significant profit growth.
Consumer Finance recorded a 92 per cent increase in profit before tax, while the Banking Group grew by 80 per cent. Investment Banking posted a 76 per cent increase, and Investment Management rose by 50 per cent.
Gross earnings rose by 27.8 per cent to N676.2 billion in the first half of 2026 from N529.2 billion in the corresponding period of 2025, driven by a 31 per cent growth in interest income and a 22 per cent expansion in earning assets from ₦4.90 trillion to ₦5.98 trillion.
Annualised Earnings Per Share (EPS) increased to N4.23 in the first half of 2026 from N3.96 for the full year 2025, despite a larger post-recapitalisation share base, reflecting the Group’s stronger earnings capacity.
Commenting on the results, the Group Chief Executive of FCMB Group, Ladi Balogun, said:
“Our first-half performance demonstrates the strength of our recapitalised and diversified business model. We delivered record profitability despite accelerating the normalisation of asset quality towards regulatory thresholds, reflecting our commitment to building a stronger balance sheet for long-term growth. Expanding net interest margins, an improved low-cost deposit mix, disciplined cost management, and growing contributions from our non-banking businesses continue to enhance the quality and sustainability of our earnings. We remain firmly on track to deliver a Return on Equity (RoE) of over 25% for the 2026 financial year.”
The Group’s digital business, comprising Payments, Lending and Wealth, also sustained strong growth, with digital revenue increasing to N89.1 billion from N73.6 billion a year earlier. Digital operations contributed 13.2 per cent of gross earnings as transaction volumes expanded across lending, payments and wealth management.
Total assets grew by 9.5 per cent to N8.36 trillion at the end of June 2026, while loans and advances to customers increased by 5.2 per cent to N2.49 trillion, supported by continued expansion in retail, SME, consumer lending and foreign currency loans to corporate customers.
Customer deposits rose by 11.4 per cent to N4.92 trillion, with the low-cost deposit mix improving to 74.9 per cent. This contributed to a 2.7 per cent year-on-year decline in interest expenses.
The Group also strengthened its capital position, with total equity increasing by 40.3 per cent to N1.17 trillion, driven by retained earnings and approximately N227 billion in additional capital raised during the second quarter of 2026. Consequently, its Capital Adequacy Ratio stood at 23.5 per cent, providing a solid buffer for future growth.
Assets Under Management expanded by 14.3 per cent to N1.95 trillion, reflecting continued market share gains by FCMB Pensions and FCMB Asset Management.
Non-banking businesses continued to play a growing role in the Group’s performance, contributing 26 per cent of total profit before tax. Combined profits from these businesses surged by 185 per cent year-on-year to N40.7 billion, reinforcing FCMB Group’s strategy of diversifying earnings beyond its core banking operations.
