FCMB Group PLC has announced a profit before tax of N35 billion for the first quarter ended March 31, 2025, reflecting strong financial performance during the period.
The Group’s gross revenue rose by 41.1% year-on-year to N252.7 billion, exceeding its Q1 projection of N226.9 billion. This growth was largely driven by a significant 58 percent increase in net interest income.
Total assets of the Group expanded by 5 percent, growing from N7.05 trillion as at December 2024 to N7.40 trillion by the end of March 2025. Loans and advances also saw an increase of 3.4% within the same timeframe, rising to N2.44 trillion, reflecting the Group’s continued support for economic activity and business expansion.
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An analysis of profit contribution across the Group’s business lines shows that the Banking Group accounted for the largest share at 81.4%. Consumer finance followed with 11.7%, while investment management and investment banking contributed 5.0% and 0.7%, respectively.
The Group’s net interest margins improved significantly to 8.3% in Q1 2025, compared to 5.4% in Q4 2024. This increase was supported by a 200 basis point reduction in the cost of funds and a higher yield on earning assets, which reached 20.2%. The Group attributed these improvements to the early gains from capital raised in 2024, as well as growth in low-cost deposit liabilities.
Ladi Balogun, Group Chief Executive, reaffirmed the Group’s strategic focus, saying that FCMB would continue to harness the strength of its diversified group structure to drive a cohesive ecosystem that supports inclusive and sustainable economic growth.
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Financial analysts have expressed optimism about FCMB Group’s outlook, noting that its diversified revenue base and stronger capital position present a favorable scenario for the rest of the financial year.
FCMB Group PLC, a financial service holding company listed on the Nigerian Exchange and headquartered in Lagos, maintains strategic interests across key sectors. Its operations serve over 14 million customers through five core platforms: banking, consumer finance, investment management, investment banking, and financial technology.
Collectively, these businesses are working to create an integrated financial ecosystem aimed at fostering inclusive and sustainable growth across Africa, the African diaspora, and the United Kingdom.
