FCMB Group Records N529.2bn in Gross Earnings

FCMB Group Plc has reported a gross earning of N529.2bn for the half-year period ended June 30, 2025—marking a 41.3% increase from N374.5bn in the same period last year.

The surge was driven by a 70.3% growth in interest and discount income, which rose to N458.4bn from N269.2bn in H1 2024. This reflects improved asset yields and loan book expansion, reaching N2.38tn.

Net interest income soared by 95.3% to N207.4bn, even as interest expenses rose 54.1% to N251.0bn. Fee and commission income also surged 51.3% to N37.9bn, supported by a 30.9% increase in commission revenue and a 14.9% dip in commission expenses.

Net trading income fell 29.3% to N22.2bn, while other gains dropped to N696.3m from N37.1bn. Operating costs rose across the board: personnel expenses increased 34.4% to N48.3bn, depreciation and amortisation rose 24.8% to N8.1bn, and general/admin expenses climbed 59.4% to N57.2bn. Other operating costs went up by 49.4% to N39.6bn.

Despite rising costs, profit before tax rose 23.2% to N79.1bn, and post-tax profit stood at N73.4bn—up 23.4% from N59.5bn. However, total comprehensive income slid to N80.3bn from N84.3bn due to lower foreign currency translation gains.