FCMB group posts 99% rise in H1 Profit Before Tax to N157.3bn

FCMB Group Plc has reported a 99 percent year-on-year increase in profit before tax (PBT) to ₦157.3 billion for the half-year ended June 30, 2026, compared with ₦79.1 billion recorded in the corresponding period of 2025, extending the strong earnings momentum achieved last year.

The unaudited results released on the Nigerian Exchange (NGX) showed that all four business divisions recorded robust profit growth. Consumer Finance led with a 92 percent increase, followed by the Banking Group at 80 percent, Investment Banking at 76 percent, and Investment Management at 50 percent.

Gross earnings rose 27.8 percent to ₦676.2 billion from ₦529.2 billion a year earlier, driven by a 31 percent increase in interest income and a 22 percent expansion in earning assets to ₦5.98 trillion. Annualised earnings per share improved to ₦4.23 despite the enlarged post-recapitalisation share base.

Group Chief Executive, Ladi Balogun, said the performance reflected the strength of FCMB’s recapitalised and diversified business model. He noted that the Group achieved record profitability while strengthening asset quality, adding that expanding net interest margins, improved low-cost deposits, disciplined cost management and growing contributions from non-banking businesses would support its target of delivering a return on equity above 25 percent for the 2026 financial year.

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Digital operations, spanning payments, lending and wealth management, generated ₦89.1 billion in revenue during the period, up from ₦73.6 billion a year earlier, accounting for 13.2 percent of gross earnings.

Total assets increased 9.5 percent to ₦8.36 trillion, while customer deposits rose 11.4 percent to ₦4.92 trillion. Shareholders’ funds climbed 40.3 percent to ₦1.17 trillion following approximately ₦227 billion in fresh capital raised during the second quarter, lifting the Group’s capital adequacy ratio to 23.5 percent.

Assets under management expanded 14.3 percent to ₦1.95 trillion, while the Group’s non-banking businesses contributed 26 percent of total profit before tax, with earnings from those businesses surging 185 percent year-on-year to ₦40.7 billion.