Lagos, Nigeria
FCMB Group has reported a strong financial performance, recording a profit before tax of N86.99 billion in the first three months of 2026. This is a major increase from the N35.02 billion it made during the same period in 2025.
The bank’s profit after tax also rose sharply to N76.53 billion, up from N32.23 billion recorded a year earlier.
FCMB’s total earnings grew to N320.22 billion, representing a 26.7 per cent increase compared to the previous year.
According to the company, the strong growth was driven mainly by higher income from loans and investments, as well as increased earnings from banking charges, fees and commissions.
The impressive result came despite rising operating expenses and higher provisions set aside for possible loan losses, showing that the Group’s core banking and financial services businesses remained strong.
FCMB’s Growth Journey
FCMB Group is one of Nigeria’s major financial institutions, with businesses in commercial banking, investment banking, asset management, pensions and consumer finance.
The company started as First City Merchant Bank in 1982 and was founded by renowned Nigerian banker and businessman, Otunba Subomi Balogun. Over the years, it expanded into different financial services and became one of the country’s well-known banking brands.
Like many banks in Nigeria today, FCMB has continued to invest heavily in digital banking services, branch expansion and financial inclusion programmes designed to reach more Nigerians, especially small businesses and people in underserved communities.
Its latest financial performance comes at a time when Nigeria’s banking sector is undergoing major changes, including regulatory reforms and recapitalisation requirements aimed at making banks stronger and better able to support economic growth.
Shareholders to Decide on Dividend
FCMB shareholders will make the final decision on the proposed dividend payment during the company’s virtual Annual General Meeting (AGM) scheduled for June 30, 2026.
Apart from voting on the dividend, shareholders are expected to review the Group’s financial performance, corporate governance activities and future business plans.
The bank has also advised shareholders who have not claimed previous dividends or who have unresolved share certificate issues to update their records with the registrar to avoid delays in future payments.
What This Means for Investors
For investors, the proposed dividend is more than just extra income. It also shows that FCMB’s management is confident about the bank’s financial strength and future growth.
With profits continuing to rise and the first-quarter results showing strong momentum, investors and market watchers will be paying close attention to see whether FCMB can maintain this performance throughout 2026 despite the challenges and changes in Nigeria’s economy.