FCMB Group Plc has reported a strong financial performance for the first half of 2026, posting a 99 per cent year-on-year increase in profit before tax (PBT) to ₦157.3 billion, compared with ₦79.1 billion recorded during the same period in 2025.
The unaudited results, released on the Nigerian Exchange Limited (NGX), underscore the Group’s continued earnings momentum following its impressive 2025 financial year.
According to the report, all four business divisions recorded significant growth in profit before tax. Consumer Finance led with a 92 per cent increase, followed by the Banking Group at 80 per cent, Investment Banking at 76 per cent, and Investment Management at 50 per cent.
Gross earnings rose by 27.8 per cent to ₦676.2 billion from ₦529.2 billion in the corresponding period of 2025. The growth was driven by a 31 per cent increase in interest income and a 22 per cent rise in earning assets, which expanded from ₦4.90 trillion to ₦5.98 trillion.
The Group also reported an annualised Earnings Per Share (EPS) of ₦4.23 for the first half of 2026, surpassing the ₦3.96 recorded for the full 2025 financial year despite a larger post-recapitalisation share base.
Speaking on the results, Group Chief Executive, Ladi Balogun, said the performance reflects the resilience of FCMB’s recapitalised and diversified business model.
He noted that the Group achieved record profitability while strengthening asset quality and maintaining a solid balance sheet for sustainable long-term growth.
Balogun attributed the performance to expanding net interest margins, improved low-cost deposits, disciplined cost management, and stronger contributions from the Group’s non-banking businesses. He expressed confidence that FCMB remains on course to achieve a Return on Equity (RoE) of more than 25 per cent by the end of the 2026 financial year.
The Group’s digital businesses, covering payments, lending, and wealth management, also delivered strong growth. Digital revenue increased to ₦89.1 billion from ₦73.6 billion recorded in the first half of 2025, contributing 13.2 per cent of gross earnings.
FCMB’s balance sheet also expanded during the period. Total assets increased by 9.5 per cent to ₦8.36 trillion, while loans and advances to customers rose by 5.2 per cent to ₦2.49 trillion, supported by growth in retail, SME, consumer, and foreign-currency lending.
Customer deposits climbed by 11.4 per cent to ₦4.92 trillion, with the proportion of low-cost deposits improving to 74.9 per cent. This contributed to a 2.7 per cent decline in interest expenses year-on-year.
Total equity grew by 40.3 per cent to ₦1.17 trillion following retained earnings growth and a capital injection of approximately ₦227 billion in the second quarter of 2026. The Group’s Capital Adequacy Ratio stood at 23.5 per cent, providing a strong capital buffer for future expansion.
Assets Under Management also rose by 14.3 per cent to ₦1.95 trillion, driven by continued market share gains across FCMB Pensions and FCMB Asset Management.
The Group’s non-banking businesses delivered a standout performance, contributing 26 per cent of total profit before tax. Profit from these businesses increased by 185 per cent year-on-year to ₦40.7 billion, highlighting FCMB’s continued success in diversifying its earnings beyond traditional banking operations.
FCMB Group Plc is a diversified financial services holding company headquartered in Lagos, with operations spanning banking, consumer finance, investment banking, and investment management. The Group serves about 15 million customers through its flagship banking subsidiary and operates more than 205 branches across Nigeria, alongside a regulated banking subsidiary in the United Kingdom.
