Nigeria: Fcmb Group's Annual Profit Surges Amid Jump in Interest Income

29 January 2026
Premium Times (Abuja)
By Ronald Adamolekun

The unaudited financial report of the banking group was released on Thursday showed that gross earnings leapt by more than two-fifths to N1.1 trillion, compared to a year ago.

FCMB Group posted a dramatic rise in earnings for 2025, with net profit increasing by 141.2 per cent, helped by a remarkable growth in interest income, its principal revenue source.

The unaudited financial report of the banking group, released on Thursday, showed that gross earnings leapt by more than two-fifths to N1.1 trillion compared with a year ago.

Keep up with the latest headlines on WhatsApp | LinkedIn

Net interest income, a performance metric that measures the difference between what banks charge borrowers and what they pay out to savers for holding their deposits, stood at N502.9 billion, up from N225.3 billion.

Net fee and commission income was up by 25.6 per cent at N73.8 billion, driven by service fees and commissions as well as account maintenance fees.

At N86 billion, FCMB Group set aside 108.5 per cent more than it did in 2024 as a provision to cover problem loans that have been impaired by repeated defaults.

"We have successfully concluded our public offer and are on track to complete the minority subsidiary sale by the end of December," the financial services group said last month.

"Subject to CBN capital verification (currently ongoing), shareholder approval at the EGM, and the required regulatory consents, we are positioned to deliver the N500bn capital target ahead of the March 2026 deadline for our banking subsidiary, FCMB Limited," it added.

An investment banker, who asked not to be named, told PREMIUM TIMES last year that the group was considering offloading its stake in the consumer credit provider, Credit Direct.

The proceeds are to be used to boost the recapitalisation plans of its banking division, she added.

In the period under review, other losses stood at N11.6 billion, reflecting a significant foreign exchange loss, compared with other gains of N39.6 billion in the same period of 2024.

Profit before tax rose to N200.9 billion from N112.1 billion, while profit for the period climbed to N176.9 billion from N73.3 billion.

Return on equity, which gauges how much of shareholder funds has been turned into profit, stood at 21.5 per cent, up from 10.6 per cent.

Read the original article on Premium Times.

Tagged:
Copyright © 2026 Premium Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 80 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.