FCMB Group H1 2025 results reveal a 23% rise in pre-tax profit to N79.3bn and a 60% surge in digital income, highlighting strong performance across business segments

FCMB Group H1 2025 results have reaffirmed the financial institution’s strong trajectory, with a pre-tax profit of ₦79.3 billion, representing a 23% year-on-year increase.

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This growth was largely driven by improved net interest income, higher asset yields, and robust digital expansion.

The Group’s gross revenue for the period rose to ₦529.2 billion, up from ₦374.5 billion in H1 2024 a 41.3% increase, fueled primarily by a 70.3% rise in interest income.

Net interest income nearly doubled to ₦207.4 billion, while net interest margin (NIM) climbed to 9.1%, up from 6.3% in the previous year, reflecting improved deposit mix and effective capital deployment.

Despite a 35.1% decline in non-interest income due to lower currency revaluation gains, digital revenue grew by 60%, reaching ₦73.6 billion. Digital services now contribute 13.9% to total earnings a testament to FCMB’s digital-led strategy.

Key Performance Highlights:

Operating expenses rose 46.1% to ₦153.2 billion, largely due to inflation, tech costs, and personnel expenses.
Cost-to-income ratio improved to 57%, down from 59.9%.
Impairment losses surged to ₦36.2 billion, pushing cost of risk to 2.8%, following the exit from CBN’s loan forbearance programme.
Profit after tax grew 23% YoY to ₦73.4 billion.

Segment Contributions:

Banking Group: 82% of Group PBT, up 41.3%.
Consumer Finance: 11.6% of PBT, up 54.5%.
Investment Management: 4.8% of PBT, grew 10%.
Investment Banking: 1.4% of PBT, down 48.9% due to one-time gain in 2024.

Balance Sheet & Capital:

Total assets: ₦7.54 trillion, up 6.9%.
Customer deposits: ₦4.55 trillion, up 5.6%.
Loans and advances: ₦2.38 trillion, up 1.1%.
Low-cost deposits now make up 69.3% of total deposits, up from 57.5%.
Assets under management: ₦1.58 trillion, up 15.5%.
Capital raised for clients by investment banking grew by over 600% to ₦2.97 trillion.

Following a successful ₦144.6 billion capital raise in 2024, the CBN has now verified the second tranche a ₦22.5 billion mandatory convertible note which increases issued shares to approximately 42.8 billion.

Ongoing phases aim to meet minimum capital requirements for maintaining an international banking license.

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FCMB remains optimistic, aiming to exceed its NIM guidance, deepen digital transformation, improve operational efficiency, and sustain strong earnings momentum through H2 2025.