First City Monument Bank Plc (FCMB) has released its unaudited financial results for the third quarter ended September 2025.
According to financial results filed with the Nigerian Exchange Group (NGX), the group reported gross revenue of N828.1 billion, a 40.9% increase from N587.7 billion in the previous year. This growth was driven by a 64.7% rise in interest income.
The company’s Non-interest income declined by 33.8% in Q3 2025, as a result of a N54.6 billion Year-on-Year decline in the nation’s currency revaluation.
FCMB’s Net interest income advanced by 101.9% to close at N350.8 billion for the period ended, from the N173.8 billion declared in the preceding year. The yield on earning assets appreciated to 21% Year-on-Year, leading to a growth in Net Interest Margin to 10.1% for 9M 2025 from 6.3% announced as at in Full-Year 2024.
The corporation’s operating expenses rose by 41.3% to close at N238.9 billion on a Year-on-Year basis. This is as a result of cost growth due to increased personnel costs, regulatory operating costs (AMCON, NDIC), technological costs, and the expenditures due to the group’s business expansions. The cost-to-income ratio declined to 55.5% from the 59.99% recorded previously.
The Net impairment loss on financial assets appreciated by 28.6% to N57.1 billion as the group’s subsidiary exited the CBN loan forbearance, which led to a growth in cost of risk to 2.8% from 1.8% declared for Full-Year 2024.
The Profit-before-tax advanced by 46% to close at N134.5 billion, while the Profit-after-tax rose by 52% to N125.4 billion. This led to a strong uplift in the Return-on-Average-Equity of the company from 12.7% to 22.5% on a Year-on-Year basis. The Equity-per-Share was up from N2.46 to N3.91 from Full-Year 2024 to September 2025.
FCMB divisions declared a Profit-before-tax growth of: Consumer Finance (78.5%), Banking Group (68.8%), Investment Management (27.6%), and Investment Banking (-34.6%).
The Profit-before-Tax contributions of the Group’s divisions are Banking Group (83.2%), Consumer Finance (11.6%), Investment Management (4.6%), and Investment Banking (1.3%).
The Total assets advanced by 2.5% to close at N7.23 trillion, up from N7.05 trillion at the end of December 2024. The loans and advances decreased by 2.9% to N2.29 trillion in Q3 2025. This was as a result of currency revaluation, loan write-offs, and concentrated paydowns. The Non-Performing-Loans closed at N5.2% and Capital Adequacy at 17.8%.
FCMB deposits appreciated by 2.3% to close at N4.40 trillion, up from N4.30 trillion. The low-cost deposits rose by 17.6% to close at N435.7 billion, while the Term Deposits decreased by 18.4% to close at N336.4 billion.
The Assets-under-Management rose by 15.9% to close at N1.59 trillion, up from N1.37 trillion declared in Full-Year 2024.
Meanwhile, the lender has announced that it has successfully concluded its public offer and is positioned to deliver the N500 billion capital target, subject to its shareholders’ approval ahead of the Central Bank of Nigeria (CBN) recapitalisation for commercial Banks operating offshore, ahead of the March 2026 deadline.
According to the lender, the CBN is currently verifying its records to ensure full compliance with the regulatory guidelines. The CBN had previously announced that 16 Banks had met the recapitalisation requirements.
FCMB is a leading financial services provider headquartered in Lagos, Nigeria. The Group operates along four business groups: The Banking Group (FCMB), FCMB (UK) Limited and FCMB Microfinance Bank Limited, Consumer Finance (Credit Direct Limited), Investment Banking (FCMB Capital Markets and CSL Stockbrokers Limited), and Investment Management (FCMB Pensions Limited, FCMB Asset Management Limited, and FCMB Trustees Limited).
The company is listed on the Nigerian Exchange Group with the ticker symbol of “FCMB”. The lender has over 13 million customers, with 205 Bank branches across Nigeria.
