FCMB Group Plc has released its unaudited financial results for the half-year (H1) ended June 30, 2026, reporting a 99 percent year-on-year (YoY) increase in profit before tax to N157.3 billion from N79.1 billion in the corresponding period of 2025, extending the strong earnings momentum recorded in the 2025 financial year.
Highlights of the six-month results released on the Nigerian Exchange Limited (NGX) showed year-on-year profit before tax growth across all four divisions of the Group: Consumer Finance (92 percent), Banking Group (80 percent), Investment Banking (76 percent), and Investment Management (50 percent).
Gross earnings grew by 27.8 percent to N676.2 billion for the first half of 2026, from N529.2 billion in the first half of 2025, driven by a 31 percent growth in interest income and a 22 percent growth in earning assets, from N4.90 trillion to N5.98 trillion. Annualised Earnings Per Share (EPS) increased to N4.23 in the first half of 2026 from N3.96 for the full year 2025, despite a larger post-recapitalisation share base, demonstrating the Group’s enhanced earnings-generating capacity.
Commenting on the results, Ladi Balogun, group chief executive, FCMB Group said:
“Our first-half performance demonstrates the strength of our recapitalised and diversified business model. We delivered record profitability despite accelerating the normalisation of asset quality towards regulatory thresholds, reflecting our commitment to building a stronger balance sheet for long-term growth.
“Expanding net interest margins, an improved low-cost deposit mix, disciplined cost management, and growing contributions from our non-banking businesses continue to enhance the quality and sustainability of our earnings. We remain firmly on track to deliver a Return on Equity (RoE) of over 25 percent for the 2026 financial year.”
The Group’s digital business — comprising Payments, Lending and Wealth — sustained its growth trajectory, with digital revenue rising to N89.1 billion for the first half of 2026 from N73.6 billion in the first half of 2025, contributing 13.2 percent of gross earnings, as volumes continued to grow across lending, payments, and wealth.
Total assets increased by 9.5 percent to N8.36 trillion at June 2026, as the Group continued to prioritise balance-sheet efficiency and optimisation. Loans and advances to customers grew by 5.2 percent to N2.49 trillion, supported by continued growth in higher-return retail, SME and consumer lending, and foreign currency loans to corporate clients.
Customer deposits grew by 11.4 percent to N4.92 trillion at June 2026, while the low-cost deposit mix improved further to 74.9 percent, leading to a decline in cost of funds year-on-year, with interest expense declining by 2.7 percent year-on-year.
Total equity grew by 40.3 percent to N1.17 trillion, supported by growth in retained earnings and approximately N227 billion additional capital injection during the second quarter of 2026, leading to a Capital Adequacy Ratio of 23.5 percent for the first half of 2026 and providing a sound capital buffer for growth.
FCMB Group’s Assets Under Management grew by 14.3 percent to N1.95 trillion at June 2026, supported by continued market-share gains at FCMB Pensions and FCMB Asset Management.
The Group’s non-banking businesses collectively contributed 26 percent of Group profit before tax, with profits increasing by 185 percent year-on-year to N40.7 billion, reinforcing the diversification of the Group’s earnings beyond banking.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
