FCMB Group Plc has announced a strong financial performance for the half-year period ended June 30, 2025, showing major growth in revenue, profit, and customer deposits, despite some challenges in trading income and rising expenses.
According to its unaudited financial results submitted to the Nigerian Exchange Limited (NGX) on Tuesday, July 29, the banking group recorded gross earnings of N529.2 billion in the first six months of the year. This shows a 41.3 per cent increase when compared to the N374.5 billion recorded in the same period in 2024.
The increase in revenue was largely driven by a sharp jump in interest and discount income, which rose by 70.3 per cent to N458.4 billion, compared to N269.2 billion in the first half of 2024. FCMB said this growth was the result of better returns on interest-earning assets and a stronger loan book. As of June 30, 2025, the Group’s total loans and advances to customers stood at N2.38 trillion.
The lender, led by its Group Chief Executive, Mr. Ladi Balogun, also reported a significant rise in net interest income. This grew by 95.3 per cent to N207.4 billion, up from N106.2 billion in the same period of the previous year. However, interest expenses also went up by 54.1 per cent, rising from N163.0 billion in H1 2024 to N251.0 billion in H1 2025.
Net fee and commission income also improved during the period. It increased by 51.3 per cent to N37.9 billion from N25.1 billion in the previous year. This growth came from a 30.9 per cent increase in fee and commission income, which rose to N47.4 billion, while fee and commission expenses dropped by 14.9 per cent to N9.5 billion.
However, not all segments recorded growth. FCMB’s net trading income declined by 29.3 per cent to N22.2 billion from N31.4 billion in H1 2024. The Group also reported a major drop in other gains, which fell to N696.3 million from N37.1 billion. This drop was linked to lower foreign exchange revaluation gains and fewer profits from the disposal of financial assets.
The bank also experienced an increase in its operating expenses across various categories. Personnel costs rose by 34.4 per cent to N48.3 billion, while depreciation and amortisation expenses increased by 24.8 per cent to N8.1 billion. General and administrative costs jumped by 59.4 per cent to N57.2 billion. Other operating expenses also rose by 49.4 per cent to N39.6 billion.
Despite these cost pressures, FCMB Group recorded a profit before tax of N79.1 billion, which represents a 23.2 per cent increase from N64.2 billion posted in the same period last year. After tax, the Group made a profit of N73.4 billion, compared to N59.5 billion in the previous year, marking a 23.4 per cent rise.
The company also recorded other comprehensive income worth N6.9 billion in the first half of 2025, which is less than the N24.8 billion it made in the same period in 2024. This brought the total comprehensive income to N80.3 billion, slightly lower than N84.3 billion in H1 2024. FCMB said this decline was mainly due to reduced unrealised foreign currency translation gains.
In terms of its balance sheet, FCMB’s total assets grew to N7.54 trillion as of June 30, 2025. Customer deposits also increased by 39.9 per cent to N4.54 trillion. Shareholders’ equity rose by 24.3 per cent to N746.6 billion, up from N600.4 billion recorded a year earlier.
However, the Group’s basic and diluted earnings per share (EPS) dropped to N3.70, from N6.00 in the same period last year. This drop in EPS was attributed to capital restructuring and changes in share count or profit distribution among shareholders.
FCMB Group Plc, one of Nigeria’s leading financial institutions, continues to show strong performance despite the tough economic environment in the country. The bank has remained focused on growing its core banking operations, improving customer services, and increasing its presence in key sectors of the economy.
As Nigeria’s banking sector continues to evolve with digital transformation, interest rate volatility, and currency reforms, the performance of lenders like FCMB will play a vital role in financial stability and credit growth across the country.
