…Loans and advances declined by 2.9% to N2.29 trillion at the end of September 2025 from N2.36 trillion at the end of December 2024, impacted by currency revaluation
MON DEC 08 2025-theGBJournal| FCMB Group has published its Unaudited Group Results (including audited Nigerian bank results) for the nine-months ended 30
September 2025.
FCMB Group posted gross revenue of N828.1 billion for the period ended September 2025, a 40.9% growth from N587.7 billion for the same period prior year, driven by a 64.7% growth in interest income.
Non-interest income declined by 33.8%, driven by a N54.6 billion Year-on-Year decline in currency revaluation gains.
Overall, FCMB’s PBT and PAT grew by 46% and 52% year-on-year to N134.5 billion and N125.4 billion respectively leading to a strong uplift in RoAE from 12.7% to 22.4% and EPS from N2.46 to N3.91 from FY 2024 to 9M 2025.
Total assets increased by 2.5% to N7.23 trillion at the end of September 2025 from N7.05 trillion at the end of December 2024.
Loans and advances declined by 2.9% to N2.29 trillion at the end of September 2025 from N2.36 trillion at the end of December 2024, impacted by currency revaluation, loan write-offs and concentrated paydowns. NPL closed at 5.2% and Capital Adequacy at 17.8%.
FCMB in the year under review, grew customer deposits by 2.3% to N4.40 trillion at the end of September 2025 from N4.30 trillion at the end of December 2024.
Low-cost deposits grew by 17.6% (N435.7 billion) whilst term deposits declined by 18.4% (N336.4 billion). Low-cost deposit mix increased to 66.1% as at September 2025 from 57.5% recorded for FY 2024.
Assets Under Management grew by 15.9% to N1.59 trillion at the end of September 2025 from N1.37 trillion at the end of December 2024.
Investment Banking (advisory and primary debt and equity capital markets) transaction value consummated by the Group grew by 285% to N3.4 trillion for the period ended September 2025, compared to N877 billion in the same period prior year.
Meanwhile, FCMB’s Net impairment loss on financial assets grew by 28.6% YoY to N57.1 billion for the period ended September 2025 as our Nigerian Banking subsidiary exited the CBN loan forbearance, which resulted in a growth in cost of risk to 2.8% from 1.8% recorded for FY 2024.
The bank’s digital business comprising Lending, Payments, and Wealth continued to record strong growth across revenue lines, transaction volumes and transaction value with digital now contributing 13.7% to gross earnings.
This resulted in a 54% Year-on-Year growth in digital revenues from N73.6
billion as at September 2024 to N113.6 billion for the period ended September 2025 with lending contributing 74.4%, Payment 23.0% and Wealth 2.6%.
Net interest income grew by 101.9% from N173.8 billion in the prior year, to N350.8 billion at the end of September 2025. The yield on earning assets improved to 21.1%, resulting in a growth in Net Interest Margin to10.1% for 9M 2025 from 6.3% as at FY 2024.
Operating expenses grew by 41.3% Year-on-Year to N238.9 billion for the period ended September 2025, with over 70% of the cost growth due to increased personnel costs, regulatory costs (AMCON & NDIC), technology costs, and investments in business expansion.
Cost-to-income ratio improved to 55.5% for the period ended September 2025 from 59.9% recorded for FY 2024.
The stock is up about 16% YtD and gained ~4% on the result, signalling growing investor confidence in FCMB’s ability to monetize the high-rate environment and sustain an above 20% RoAE, which should support further re-rating versus mid-tier peers as recapitalization risks continue to ease.
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