First City Monument Bank Plc (FCMB), a major Nigerian commercial bank regulated by the Central Bank of Nigeria, reported earnings of N828bn, driven by a sharp increase in interest income. The result reflects stronger lending activity and wider margins in the bank’s core operations.
Interest income formed the bulk of the growth, supported by higher yields across the banking system and increased demand for credit. FCMB’s performance improved despite broader pressures in the financial sector, including rising funding costs and market volatility.
The bank noted that interest-based revenues expanded across its retail, commercial, and corporate segments. Lending volumes rose while asset quality remained stable, allowing the bank to maintain profitability even as macroeconomic conditions tightened.
Management attributed the gains to disciplined balance-sheet growth and tighter cost control. The bank continued to prioritise deposits, which strengthened liquidity and reduced reliance on expensive funding sources.
FCMB also benefited from improved treasury operations as government securities offered higher returns during the period. The combination of stronger yields and prudent risk management supported revenue expansion across multiple lines.
A senior executive said the bank remains focused on building resilient income streams and maintaining capital adequacy. The statement underscored the institution’s commitment to sustaining profitability while supporting economic activities through credit delivery.
Analysts noted that FCMB’s performance aligns with trends in Nigeria’s banking industry, where banks have leveraged interest-rate movements to boost earnings. However, they cautioned that continued volatility in inflation and foreign exchange markets could influence future results.
The bank reiterated its plan to deepen digital banking, strengthen operational efficiency, and expand customer outreach. These priorities are intended to support long-term growth and enhance competitiveness within the sector.
FCMB’s results come as regulators continue to push for stronger capital buffers and improved risk practices across Nigerian banks to stabilise the financial system.
