First City Monument Bank (FCMB) Group Plc posts record on blockbuster interest income as the lender uses shareholders’ money to generate higher earnings.
In its Half-Year results glimpsed from the NGX website, FCMB Group posted profit after tax (PAT) of N139.85 billion in the first six months of 2026, which is 90.47 percent higher than 2025’s N73.42 billion.
The return on average equity (ROAE) increased to 27.97 percent in June 2026 from 19.15 percent the previous year.
Return on equity (ROE) measures how well a company generates profits for its owners. It is defined as the business’ net income relative to the value of its shareholders’ equity. It reveals the company’s efficiency at turning shareholder investments into profits. A higher ratio is more preferable because it indicates efficiency gains and stronger profitability.
The Banks’s (Group) gross earnings grew by 27.8 percent to N676.2 billion in June 2026 from N529.20 billion in June 2025, , driven by a 31.0 percent growth in interest income and a 22 percent growth in earning assets from N4.90 trillion to N5.98 trillion.
“Our first-half performance demonstrates the strength of our recapitalised and diversified business model. We delivered record profitability despite accelerating the normalisation of asset quality towards regulatory thresholds, reflecting our commitment to building a stronger balance sheet for long-term growth,” said Ladi Balogun, the Group Chief Executive Officer of FCMB Group.
“Expanding net interest margins, an improved low-cost deposit mix, disciplined cost management, and growing contributions from our non-banking businesses continue to enhance the quality and sustainability of our earnings. We remain firmly on track to deliver a Return on Equity (RoE) of over 25 percent for the 2026 financial year,” Balogun.
Net Interest Income, the core profit a bank makes from its lending and borrowing activities, spiked by 71.8 percent to N356.3 billion in the period under review from N207.40 billion the previous year, as higher interest income was reinforced by a 2.7 percent Year-on-Year decline in interest expense, reflecting an improved low-cost deposit mix and lower cost of funds.
The Group’s digital business — comprising Payments, Lending and Wealth — sustained its growth trajectory, with digital revenue rising to N89.1 billion in June 2025 from N73.60 billion, as volumes continued to grow across lending, payments and wealth.
Loans and advances to customers grew by 5.2 percent to N2.49 trillion as at June 2026 from N2.37 trillion as at December 2025, supported by continued growth in higher-return retail, SME and consumer lending, and foreign currency loans to corporate clients.
Customer deposits grew by 11.4 percent to N4.92 trillion as at June 2026 from N4.42 trillion in December 2025.
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