FCMB Group, led by Nigerian banking executive Ladi Balogun, has reported gross earnings of N828.1 billion ($570 million) for the first nine months of its 2025 fiscal year, a 40.9% increase from N587.7 billion ($404 million) in the same period last year.
The growth was driven by a 64.7% surge in interest income, although non-interest income fell 33.8% due to a decline in currency revaluation gains.
Despite this, FCMB’s profit after tax rose 52% to N125.45 billion ($86.2 million), boosting return on average equity to 22.4% from 12.7%.
The bank’s digital business, including lending, payments, and wealth management, contributed 13.7% of gross earnings, with revenues climbing 54% year-on-year to N113.6 billion ($78.1 million).
Net interest income more than doubled, rising 101.9% to N350.8 billion ($241.2 million), while total assets grew 2.5% to N7.23 trillion ($4.97 billion). Assets under management increased 15.9% to N1.59 trillion ($1.09 billion), with retained earnings surging to N291.9 billion ($200.6 million).
