FCMB Group Reports ₦35B Q1 Profit: Revenue Exceeds Forecasts Worldwide

FCMB Group Plc announced a pre-tax profit of ₦35 billion for the three months ending March 31, 2025. The company’s gross earnings increased by 41.1%, reaching ₦252.7 billion, exceeding their projected figure of ₦226.9 billion for the same period. This growth was largely due to a significant rise of 58% in net interest income.

The group reported a 5% increase in total assets, rising from ₦7.05 trillion in December 2024 to ₦7.40 trillion by March 2025. Additionally, loans and advances expanded by 3.4%, reaching ₦2.44 trillion during this timeframe, which helped stimulate business and economic activities.

The Banking Group contributed 81.4% of the profits, with Consumer Finance following at 11.7%, Investment Management at 5.0%, and Investment Banking at 0.7%.

The net interest margin increased to 8.3% from 5.4% in the fourth quarter of 2024, fueled by a decrease in funding costs by 200 basis points and an elevated yield on earning assets at 20.2%.

The Group attributed the enhancement to initial advantages from the funds raised in 2024 along with betterment in lower-interest deposit liabilities.

The Group Chief Executive, Ladi Balogun, stated that this multifaceted financial services organization will persist in utilizing its corporate framework to establish an ecosystem aimed at promoting inclusive and sustainable development.

According to analysts, FCMB Group’s varied income sources and improved capital standing offer an optimistic forecast for the remainder of the fiscal year.

FCMB Group Plc is a financial services conglomerate that is publicly traded on the Nigerian Exchange and has its headquarters in Lagos.

The group holds strategic stakes in enterprises catering to more than 14 million clients through various channels including banking, consumer financing, asset management, investment banking, and fintech solutions.

Collectively, these enterprises are developing an interconnected system aimed at fostering inclusive and sustainable development throughout Africa, its diaspora communities, and the United Kingdom.