FCMB Group Plc. Photo: FCMB
FCMB Group Plc nearly doubled its profit before tax in the first half of 2026, posting a 99 per cent increase to N157.3bn as stronger lending income, an improved deposit mix and expanding digital operations offset higher loan impairment charges.
The financial services group, in its unaudited results for the six months ended 30 June 2026, reported gross earnings of N676.2bn, representing a 27.8 per cent increase from N529.2bn in the corresponding period of 2025. The growth was driven by a 31 per cent rise in interest income and a 22 per cent expansion in earning assets to N5.98tn.
Net interest income surged 71.8 per cent to N356.3bn, supported by stronger lending income and a 2.7 per cent decline in interest expense as the group increased its share of low‑cost deposits. This helped lift net interest margin to 11.2 per cent from 9.1 per cent a year earlier.
The group’s digital businesses, spanning payments, lending and wealth management, continued to gain traction. Digital revenue climbed to N89.1bn from N73.6bn, contributing 13.2 per cent of total gross earnings as transaction volumes increased across the three businesses.
