FCMB profit before tax surges 46% to N134bn
FCMB has announced a profit before tax of N134.497 billion for the nine months ending 30 September 2025, which is a 46.2 percent rise from the N91.83 billion recorded during the same period last year.
For the third quarter alone, the Group’s unaudited financial report submitted to the Nigerian Exchange showed that pre-tax profit surged by 100.47% to N55.37 billion, up from N27.62 billion in Q3 2024.
On the revenue side, FCMB experienced a remarkable 40.89% increase in gross earnings, totaling N828.128 billion in 9M 2025, compared to N587.773 billion in the same timeframe in 2024.
The growth in FCMB’s profit for the nine months ending September 30, 2025, was primarily driven by a substantial rise in interest income, which increased by 64% to N734.11 billion, relative to N445.79 billion in the same period of 2024.
This rise was mainly due to a 46% increase in interest income from loans and advances to customers, reaching N464 billion and accounting for 63% of total interest income. This growth occurred even with a 3% decrease in loans and advances to customers, which fell to N2.29 trillion.
On the expense side, interest expenses grew by 41% to N383.28 billion for the period. This rise was primarily attributed to higher costs linked to customer deposits, which surged by 19% year-on-year to N255.6 billion, making up 67% of total interest expenses.
FCMB expanded its deposit base by N99.27 billion, bringing it to N4.4 trillion.
Despite the increase in interest expenses, FCMB succeeded in preserving a strong net interest income. The net interest income for the nine months ending September 30, 2025, amounted to N350.83 billion, representing an impressive 102% year-on-year growth.
After factoring in impairment charges of N57.12 billion, net interest income after impairment reached N293.71 billion, marking a 127% increase from the previous year’s N129.37 billion.
FCMB achieved N108.01 billion in non-interest income, reflecting a 6.21% year-on-year growth and comprising 13% of gross earnings.
This non-interest income was fueled by robust growth in fee and commission income, particularly from service fees and commissions (N28 billion) and account maintenance charges (N13.99 billion).
In terms of trading income, while treasury bills income more than doubled to N10.6 billion, a decrease in foreign exchange trading income and FGN bonds trading income led to a 25% decline in net trading income, which totaled N37.26 billion.
FCMB's total assets increased by 2.52% to N7.23 trillion. This asset base was comprised of customer deposits, which account for approximately 61% of total assets, and loans and advances, which represent 32% of total assets.
The growth in total assets was also bolstered by investments in securities, which contribute 21% of total assets and 34% of customer deposits, alongside cash and cash equivalents making up 22% of total assets.
Regarding shareholders’ funds, FCMB experienced a rise of N116.95 billion over the nine months, driven by a N22.73 billion increase in its share premium and share capital account, bringing the total to N288.96 billion.
Moreover, retained earnings grew by N103.47 billion, accounting for over 36% of shareholders’ funds.
After the disclosure of its results on December 5, 2025, FCMB’s share price saw an intraday increase of about 4%, closing at N10.90.
FCMB entered the year with a share price of N9.40 and has since appreciated 16% from that price position.
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