FCMB Group's H1 2026 Profit Soars 99% to N157.3bn

FCMB Group Plc announced a 99% increase in profit before tax for the first half of 2026, reaching N157.3 billion. The financial services group attributed this growth to stronger lending income, an improved deposit mix, and expanding digital operations, which offset higher loan impairment charges.

In its unaudited results for the six months ending 30 June 2026, FCMB reported gross earnings of N676.2 billion, a 27.8% increase from N529.2 billion in H1 2025. This growth was supported by a 31% rise in interest income and a 22% increase in earning assets to N5.98 trillion.

Net interest income surged by 71.8% to N356.3 billion, aided by a decline in interest expense. Despite higher impairment charges of N85.9 billion, profit after tax rose 90% to N139.9 billion.

Total assets grew by 9.5% to N8.36 trillion, while customer deposits increased by 11.4% to N4.92 trillion. The group’s capital adequacy ratio improved to 23.5%, enhancing its capacity for future growth.