Prime Business Africa
First City Monument Bank (FCMB) has entered Nigeria’s trillion-naira revenue club after gross earnings jumped 42.5% to N1.13 trillion in 2025, driven by a 61.7% spike in interest income to over N1 trillion, according to the bank’s audited financials for the year ended December 31, 2025.
The lender’s net interest income more than doubled, rising 124.5% to N505.9 billion, as interest earnings outpaced the 26% rise in interest expense. That performance pushed profit after tax up 141.7% to N177.27 billion, from N73.33 billion in 2024, despite a 29.7% drop in net trading income to N37.79 billion.
A breakdown of the company’s finances in its consolidated and separate financial statements for the year ended December 31, 2025, showed that interest income increased by 61.67 percent year-on-year.
Join our WhatsApp ChannelBetween January and December last year, FCMB generated N1 trillion through interest income, exceeding the N621.80 billion generated during the corresponding period in 2024.
The growth more than doubled the increase in interest expense, which rose to N499.42 billion in 2025, surpassing the N396.50 billion incurred in 2034, indicating a jump of 25.95 percent.
This resulted in the financial institution’s net interest income rising by 124.54 percent during the period under review, as it increased to N505.90 billion, compared to the N225.3 billion recorded the previous year.
FCMB also recorded an increase in fee and commission income, after the segment generated N97.89 billion last year, up from the N74.3 billion in 2024, representing a 31.73 percent growth.
However, fee and commission expense grew faster, as it increased by 36.94 percent to N21.24 billion between the first quarter (Q1) and fourth quarter (Q4) of 2025, outstripping the N15.51 billion sustained in 2024.
After the deduction of the expense from the income, FCMB was left with net fee and commission income of N76.65 billion in 2025, which is a 30.36 percent jump when compared to the N58.79 billion posted the year before.
But the bank recorded a decline in net trading income, which fell to N37.79 billion last year, failing to surpass the N53.79 billion recorded in 2024, reflecting a 29.74 percent decrease.
Regardless, FCMB closed the period under review with a 79.19 percent increase in operating profit, after reporting N200.91 billion, which is above the N112.11 billion notched up in 2024.
With the inclusion of the share of post-tax results of associate in its finances, FCMB reported N202.1 billion as profit before tax (PBT) in 2025, up by 80.61 percent, when compared to the N111.89 billion posted the year before.
Income tax gulped N24.82 billion in the pretax profit of last year, compared to the N38.55 billion earmarked for tax expense in 2024, representing a 35.60 percent decline.
The reduction in taxes contributed to the company recording a 141.71 percent growth in profit after tax (PAT), as FCMB posted N177.27 billion post-tax profit in 2025, exceeding the N73.33 billion reported in 2024.
Meanwhile, FCMB had the third least-performing shares among its peers in the Nigerian stock market in the first quarter (Q1) of 2026.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
