By Seun Ibiyemi
FCMB Group Plc has reported a robust financial performance for the nine months ended September 30, 2025, posting a 52 per cent increase in Profit After Tax (PAT) to N125.4 billion.
The Group also highlighted significant progress in its recapitalisation efforts ahead of the Central Bank of Nigeria’s March 2026 deadline.
The financial holding company recorded a 40.9 per cent growth in gross revenue to N828.1 billion, up from N587.7 billion in the corresponding period of 2024.
This growth was anchored by a 64.7 per cent surge in interest income, which successfully cushioned the impact of a 33.8 per cent decline in non-interest income attributed to lower currency revaluation gains.
A standout performer was the Group’s digital division encompassing lending, payments, and wealth management which saw revenues jump by 54 per cent to N113.6 billion, contributing 13.7 per cent to gross earnings.
Profitability metrics strengthened significantly, with net interest income doubling by 101.9 per cent to N350.8 billion due to improved yields on earning assets.
Consequently, the net interest margin widened to 10.1 per cent from 6.3 per cent in the previous year. Although operating expenses rose by 41.3 per cent to N238.9 billion due to inflationary pressures and investments in technology, the Group’s cost-to-income ratio improved to 55.5 per cent.
Profit Before Tax (PBT) climbed 46 per cent to N134.5 billion, with the Banking Group contributing the lion’s share at 83.2 per cent.
The Group’s balance sheet remained resilient, with total assets rising by 2.5 per cent to N7.23 trillion, while customer deposits grew to N4.40 trillion.
Notably, the mix of low-cost deposits improved, pushing the Current and Savings Account (CASA) ratio to 66.1 per cent. Addressing its capital position, FCMB confirmed the successful conclusion of its public offer and noted that the sale of a minority subsidiary is on track for completion by December. With regulatory approvals in progress, the Group expressed confidence in meeting the N500 billion capital base target ahead of schedule.
Naira slips to N1,450/$ at official market after weekly loss
The Naira closed the trading week on a negative note, recording a marginal loss of N2.60 against the United States Dollar at the official foreign exchange market on Friday.
Data from the Central Bank of Nigeria indicates the currency settled at N1,450.42 per dollar, representing a 0.17 per cent depreciation compared to Thursday’s rate of N1,447.82.
The outcome reflects a week of persistent, albeit mild, pressure on the local currency.
Trading patterns throughout the week showed a consistent downward drift. After opening the week at N1,448.43, the Naira dipped to N1,445.39 on Tuesday before weakening further to N1,447.64 by Wednesday as demand for the greenback continued to outpace supply.
Market analysts observe that the week’s performance underscores the lingering fragility within the official window, where frequent, modest fluctuations have become the norm.
The depreciation on Friday caps a week where the currency struggled to find a firm footing amidst ongoing liquidity challenges.