The year-end financial report of FCMB Group Plc reveals a PBT of N111.9 billion matching a 7.1% growth from the previous year period.
The Group achieved a 53.9% gross revenue surge that reached N794.4 billion from increased interest income by 75.2% and non-interest income by 8.7%.
The group generated N225.3 billion of net interest income through better earning assets yields while funding costs reduced net interest margin.
The digital business segment of FCMB Group recorded a remarkable expansion during the year because digital revenueincreased by 69.2% from N60.3 billion to N101.9 billion.
Digital channels allowed the disbursement of 1.6 million retail loans totaling N148.8 billion and more than 18,000 SME loans equivalent to N208.2 billion. Assets Under Management (AUM) in digital wealth management rose to N22.4 billion, up from N15.1 billion in the prior year.
Customer trust in FCMB continued to rise strongly because deposits increased by 39.4% to N4.3 trillion compared to N3.08 trillion during the previous year.
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The FCMB Group boosted its total assets by 59.5% between the years as total assets reached N7.05 trillion from N4.42 trillion in the previous year. The Investment Management division of the Group increased Assets Under Management (AUM) across all branches by 35% to N1.37 trillion during December 2024. The Group’s loans and advances also augmented by 28% to reach N2.36 trillion during the same period.
The Group Chief Executive of FCMB Group Plc, Ladi Balogun, declared that the company expects considerable earnings per share (EPS) growth for full-year 2025 based on lasting non-banking business success along with a robust financial position, digital strategy implementation, and strategic market positioning.
FCMB Group accomplished N144.6 billion from public fund-raising which enabled it to obtain the National Banking License for its banking subsidiary as part of its recapitalisation program. The financial institution continues to pursue additional capital acquisition plans to fulfill Central Bank of Nigeria requirements for obtaining an International banking license.
The Banking Group of the Group generated 69.5% of PBT but showed a 7.7% annual decrease resulting from declining net interest margins and reduced other gains in addition to the 35% investment banking decrease caused by one-time divestment gains.
Consumer Finance operations within the Group saw PBT rise by 83.5% during the period while Investment Management showed a 27.9% increase in PBT.
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The bank plans to drive earnings growth in 2025 by optimising net interest margins through a stronger capital position, expanding digitally enabled payments and collections solutions to achieve low-cost deposit funding, and deeper engagement in premium retail and institutional banking. Consumer finance is expected to maintain its strong momentum, supported by digital innovation and new product offerings, while Investment Banking aims to capitalise on increased capital market activities. Investment Management is expected to continue its steady growth.
