FCMB Group 1H 2026 Results: PBT Surges 99% to ₦157.3bn

FCMB Group Plc reported Profit Before Tax of ₦157.3 billion for the first half of 2026, representing a 99% increase from ₦79.1 billion in the same period of 2025. Profit After Tax rose 90% to ₦139.9 billion, while annualised Return on Average Equity strengthened to 27.9% from 20.6% in 1H 2025.

Gross earnings grew 27.8% to ₦676.2 billion, driven by a 31.0% rise in interest income. Net Interest Income expanded 71.8% to ₦356.3 billion, with Net Interest Margin improving to 11.2% from 9.1%. The Cost-to-Income Ratio fell sharply to 41.4% from 57.0% in 1H 2025, as operating expenses grew by only 12.3% to ₦172.0 billion.

Net impairment losses rose to ₦85.9 billion, including approximately ₦63.4 billion of write-offs on stage 2 loans, which reduced the banking subsidiary's non-performing loan ratio to 5.2%. Total assets reached ₦8.36 trillion, while customer deposits grew 11.4% to ₦4.92 trillion. Total equity increased 40.3% to ₦1.17 trillion, supported by a ₦227 billion capital injection in Q2 2026, lifting the Capital Adequacy Ratio to 23.5%. Annualised Earnings Per Share stood at ₦4.23.