By Olusegun Obisanya
FCMB Group Plc has recorded one of the strongest financial performances in its history, posting a 141.72 per cent increase in profit after tax to N177.27 billion in the 2025 financial year from N73.34 billion in 2024, a result that analysts say marks a major strategic turning point for the financial holding company.
In a statement from the financial institution, the audited results have sparked renewed optimism among investors and market stakeholders, with independent analysts at Proshare describing the earnings performance as the most significant in the Group’s recent corporate history.
According to the analysts, the triple-digit growth in profit demonstrates improved capital productivity and validates the Group’s strategic investments and expansion initiatives, which have translated into stronger balance sheet performance and enhanced competitiveness within Nigeria’s banking industry.
Proshare attributed the record profitability to a robust growth in gross revenue, which climbed by 42.46 per cent to exceed N1.13 trillion during the year. Interest income surged by 61.68 per cent, crossing the N1 trillion mark for the first time in the Group’s history, reflecting stronger asset yields, increased lending activities and sustained commercial momentum.
The analysts also highlighted FCMB Group’s ability to improve operating efficiency despite a challenging macroeconomic environment. While operating expenses rose by 43.41 per cent to N328.49 billion amid persistent inflationary pressures, revenue growth outpaced the increase in costs, enabling the Group to strengthen its operating leverage and reinforce the resilience of its business model.
According to the report, another significant contributor to the record earnings was the normalisation of the Group’s tax obligations. With the expiration of the banking sector’s one-off windfall tax regime, FCMB’s effective tax rate declined sharply from 34.46 per cent in the previous year to 12.29 per cent in 2025.
Proshare estimated that the lower tax burden preserved about N26 billion in retained earnings, providing additional capital to strengthen the balance sheet and support long-term value creation for shareholders.
The analysts concluded that the 2025 financial performance reflects a structural improvement in FCMB Group’s earnings profile and positions the institution for sustained growth as it continues to execute its long-term strategic objectives.
