FCMB Group has reported a strong first-half performance for 2026, with one figure standing out beyond its near doubling of profits. The financial services group generated ₦89.1 billion in digital revenue in the first six months of the year highlighting the growing role of its payments, lending, and wealth businesses as it posted a 99% increase in profit before tax to ₦157.3 billion.
The unaudited results for the period ended June 30, 2026 show that while the banking business remains the Group’s largest earnings driver, its digital operations continue to become a more meaningful contributor to overall performance. Digital revenue accounted for 13.2% of gross earnings, rising from ₦73.6 billion recorded in the corresponding period of 2025.
The performance reflects increasing adoption of FCMB’s digital financial services, alongside continued growth in lending, payments, and wealth management volumes. As Nigerian financial institutions continue investing in digital channels to deepen customer engagement and improve efficiency, FCMB’s latest results suggest the strategy is beginning to deliver stronger commercial returns.
Overall, the Group reported profit before tax of ₦157.3 billion, up from ₦79.1 billion in the first half of 2025, extending the earnings momentum it recorded during the 2025 financial year.
Profit Growth Across Business Lines
FCMB recorded year-on-year profit before tax growth across all four of its operating divisions:
* Consumer Finance grew by 92%
* Banking Group increased by 80%
* Investment Banking rose by 76%
* Investment Management expanded by 50%
Gross earnings also climbed 27.8% to ₦676.2 billion, driven by a 31% increase in interest income and a 22% growth in earning assets, which rose from ₦4.90 trillion to ₦5.98 trillion.
Annualised Earnings Per Share increased to ₦4.23 during the first half of 2026 from ₦3.96 for the full year 2025, despite the larger share base following the Group’s recapitalisation.
Commenting on the results, Ladi Balogun, Group Chief Executive of FCMB Group, said: “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. 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% for the 2026 financial year.”
Digital Business Gains Momentum
The Group’s digital business, which combines its payments, lending, and wealth operations, remained one of the fastest-growing parts of the organisation.
Revenue from the segment increased by more than 21%, rising from ₦73.6 billion in the first half of 2025 to ₦89.1 billion during the same period in 2026. The growth was supported by higher transaction volumes, expanding digital lending activities, and increased adoption of wealth management products.
The figures underscore the increasing importance of diversified revenue streams for Nigerian financial institutions, particularly as competition intensifies across digital banking, fintech services, and embedded finance.
Stronger Balance Sheet
FCMB also strengthened its balance sheet during the period.
- Total assets rose 9.5% to ₦8.36 trillion
- Customer loans and advances increased 5.2% to ₦2.49 trillion
- Customer deposits grew 11.4% to ₦4.92 trillion
- The low-cost deposit mix improved to 74.9% helping reduce funding costs as interest expense declined 2.7% year-on-year.
The Group’s total equity increased by 40.3% to ₦1.17 trillion, supported by retained earnings and an additional ₦227 billion capital injection completed during the second quarter of 2026. This lifted its Capital Adequacy Ratio to 23.5%, providing additional capacity to support future lending and business expansion.
Assets Under Management also grew 14.3% to ₦1.95 trillion, driven by continued growth at FCMB Pensions and FCMB Asset Management.
Meanwhile, FCMB’s non-banking businesses continued to play a larger role in the Group’s earnings mix, contributing 26% of total profit before tax after recording a 185% year-on-year increase in profits to ₦40.7 billion, reinforcing the Group’s strategy of building multiple growth engines beyond traditional banking.
