FCMB Gains 13% as Earnings Scorecard Boosts Investors Sentiment
FCMB Plc post-earnings bets bolstered the market value of the group’s 65.953 billion outstanding shares on the Nigerian Exchange by 13.10% week on week to N854.111 billion.
Trading data from the Nigerian bourse showed the FCMB share price surged to N12.95 on Friday with N2.781 billion in transaction value for 217.914 million units traded.
The banking group is seeing significant earnings beats with relatively high trading volume in the stock market last week. Increased market activity led by buy-side actors in the local bourse strengthened its share price to N12.95, breaching N11 price resistance.
Stock market analysts explained that the latest rally has effectively reduced FCMB price volatility, with the stock now trading at about an 11% discount to its 52-week high in the Nigerian bourse.
In the first half of 2026, FCMB nearly doubled down on profitability, driven by improved topline performance amidst an elevated interest rate environment,
The group’s profit before tax grew by 99% to ₦157.3 billion from ₦79.1 billion in the equivalent period in 2025, extending the growth momentum recorded in financial year 2025.
Profit After Tax increased by 90% to ₦139.9 billion, up from ₦73.4 billion amidst a single-digit 5.2% year-on-year loan growth, suggesting non-core banking operations drove the earnings momentum in the first half of 2026.
FCMB Group’s gross earnings grew by 27.8% to ₦676.2 billion, up from ₦529.2 billion, driven by a 31.0% growth in interest income and a 22% growth in earning assets from ₦4.90 trillion to ₦5.98 trillion.
Loans and advances to customers grew by 5.2% to ₦2.49 trillion as at June 2026 from ₦2.37 trillion at the beginning of the year, supported by continued growth in higher-return retail, SME and consumer lending, and foreign currency loans to corporate clients.
Reflecting a shift in business strategy to align with macro development, FCMB revealed that the Group’s digital business — comprising Payments, Lending and Wealth — sustained its growth trajectory.
Specifically, digital revenue rose to ₦89.1 billion in the first half of 2026 from ₦73.6 billion posted in the equivalent period and contributed 13.2% of gross earnings, as volumes continued to grow across lending, payments and wealth.
The group ramped up deposits while maintaining a tight lending appetite. While loans surged 5.2%, customer deposits grew by 11.4% to ₦4.92 trillion as at June 2026 from ₦4.42 trillion in Dec. 2025. FCMB said the low-cost deposit mix improved further to 74.9% from 65.4% at the beginning of the year, leading to a decline in the cost of funds. #FCMB Gains 13% as Earnings Scorecard Boosts Investors Sentiment# FCMB Gains 11% as Group Hints at H1 2026 Earnings, Incentive Plan
