FCMB Group’s Profit Before Tax Climbs 23% to N79.3bn in H1 2025

FCMB Group Plc has reported a significant increase in its financial performance for the first half of 2025, with its Profit Before Tax (PBT) rising by 23 per cent to N79.3 billion, underscoring the company’s resilience and strategic business growth. The financial group, which operates across banking, asset management, and other financial services, attributed the strong performance to improved revenue generation, effective cost management, and robust growth in its loan and deposit portfolios.

The company’s unaudited financial results for the period ended June 30, 2025, showed that gross earnings rose sharply compared to the same period last year, driven by interest income from loans, advances, and investment securities. Non-interest revenue also recorded notable growth, reflecting higher fees and commissions as well as trading income, supported by the group’s efforts to diversify revenue streams and improve efficiency across its operations.

Management disclosed that the loan book expanded significantly as the bank deepened its support for key sectors of the economy, including agriculture, manufacturing, and infrastructure. Customer deposits also witnessed remarkable growth, reflecting increased customer confidence and an expanding retail footprint. The group said its digital banking channels contributed immensely to improved service delivery and enhanced customer acquisition during the review period.

The Group Chief Executive, Ladi Balogun, noted that the improved financial results highlight FCMB’s commitment to sustainable growth and its ability to deliver value despite the prevailing macroeconomic challenges. He emphasized that the group’s diversified business model and customer-centric strategy played a crucial role in driving profitability and maintaining competitive advantage in Nigeria’s evolving financial landscape.

According to him, the company is also leveraging technology to enhance customer experience and operational efficiency. Balogun further stated that FCMB is committed to supporting businesses and individuals with innovative financial solutions that contribute to economic growth and development. He added that the group remains focused on optimizing capital allocation and risk management to ensure sustainable performance going forward.

The half-year report also showed improvements in key financial ratios, including return on equity and return on assets, underscoring the group’s efficient use of capital. Operating expenses, although slightly higher due to inflationary pressures and investments in digital infrastructure, were effectively managed to maintain healthy margins. The group’s total assets also grew significantly, reflecting its expanding market share and strengthening balance sheet.

Analysts have lauded FCMB’s performance, noting that the group’s steady earnings growth and focus on innovation position it strongly for future expansion. The bank’s ability to deliver improved profitability despite economic headwinds such as inflation, foreign exchange volatility, and rising operational costs demonstrates its financial resilience and strategic foresight.

Industry observers also highlighted the role of regulatory policies and market reforms in shaping the financial sector’s outlook. FCMB’s results suggest that the bank is well-positioned to benefit from emerging opportunities in Nigeria’s banking sector, particularly in digital financial services, small and medium-sized enterprise (SME) lending, and sustainable finance initiatives.

As the group moves into the second half of 2025, management has reaffirmed its commitment to sustaining growth momentum through innovative product offerings, enhanced customer engagement, and prudent risk management. Balogun indicated that the group will continue to leverage its strong capital base and technological capabilities to expand operations within and outside Nigeria.

Market watchers predict that FCMB’s growth trajectory could continue if the bank sustains its current strategies and capitalizes on government economic reforms aimed at improving the business environment. With increased competition in the banking sector, FCMB’s focus on customer satisfaction, financial inclusion, and digital transformation is expected to provide it with a competitive edge.

The group’s shareholders are also expected to benefit from the improved earnings performance, as the company hinted at the possibility of enhanced returns subject to board approval and regulatory considerations. FCMB reaffirmed its long-term goal of building a dominant financial services franchise that delivers value to all stakeholders while contributing positively to Nigeria’s economic development.

Looking ahead, FCMB management emphasized that it would remain vigilant to market risks and external economic factors, ensuring that its growth strategy remains adaptive to changing market conditions. The bank’s focus on technology-driven solutions and financial inclusion is expected to further strengthen its market position and profitability in the years ahead.