FCMB Group, a financial services holding company led by Nigerian banking executive Ladi Balogun, posted stronger-than-expected results for the first nine months of its 2025 fiscal year, thanks to the surge in interest income. It reported gross earnings of N828.1 billion 570 million for the period ended Sept. 30, up 40.9 percent from N587.7 billion 404 million a year earlier.
The growth was fueled by a 64.7 percent increase in interest income, although non-interest income fell 33.8 percent, reflecting a N54.6 billion 37.5 million drop in currency revaluation gains. Despite the decline in non-interest revenue, FCMBs profit after tax rose 52 percent to N125.45 billion 86.2 million, compared with N82.39 billion 56.6 million in the same period of 2024. This improvement boosted return on average equity to 22.4 percent from 12.7 percent and lifted earnings per share to N3.91 0.00269 from N2.46 0.00169.
Net interest income more than doubles
