FCMB Dey Shine Like Star, But Wetin Dey Happen for We Side?

City, Nigeria

See as FCMB Group dey ball! Dem just drop their earnings package, and the numbers wey dem show na serious business. As we dey talk, dem report say their gross earnings don jump to N828.1 billion by September 2025, which na 40.9% increase from last year. Abeg, who dey chop this money sef?

The gist wey follow dis report be say the Central Bank of Nigeria (CBN) dey show serious ‘hawkish’ side dis year, as e dey try manage inflation wey dey drop small small like wetin wey fall from tree. Dem still maintain dis benchmark interest rate wey dey 27% for their last meeting. (Nawa o! How dem wan make business run for this kind condition?)

For FCMB, e no be all rosy as dem get one part wey dem dey call non-interest income wey don gree waka 33.8% down. Wetin cause am? Na currency revaluation gains wey don reduce sharply, like your friend wey no fit find money for bottle of palm wine!

But wait, no gree vex too much for them. Dem report say their digital business dey blow like trumpet! Na 13.7% of their gross earnings come from digital channels. How e take dey happen? E get as dem digital revenues jump from N73.6 billion to N113.6 billion since last year. Na 54% increase! Na who dey use online banking dey enjoy the sweet side of life!

Now, you fit ask, how about their net interest income? E don skyrocket by 101.9% from N173.8 billion to N350.8 billion. Na high-interest rates dey push this growth. Their earning assets don dey yield like fine wine wey don age well, up to 21.1%!

But dem no forget to mention say operating expenses don rise too, by 41.3%. Most of the increase dey come from personnel costs and tech investments. (E be like say dem dey prepare for new level, abi dem dey try impress somebody?)

And wetin about loans? Na here wey we dey see some wahala as loans and advances don fall by 2.9% to N2.29 trillion. Why? Currency revaluation and some write-offs don set them back. Na so market dey shake, but dem still dey hold on tight.

For the recapitalisation wahala, FCMB don confirm say dem dey on track to complete am before 2026 deadline. Their public offering don land, and dem dey expect to raise N500 billion for their banking side latest by March 2026. (Chai! Dem dey move like champion wey wan win cup this time).

Despite all the wahala wey dey ground, FCMB still dey optimistic say dem go keep the profits and strong capital position. Dem don prepare well for the coming year, with their eyes firmly on the prize. (Abeg, make dem no forget to share the gist with us!).