FCMB Records Massive Growth in Digital Business, Hits N113.6 Billion in 2025 Nine-Month Results
First City Monument Bank Group (FCMB) has reported a major boost in its digital business arm in its financial results for the nine months ending September 31, 2025. The digital segment, which includes digital lending, payments, and wealth management, continues to play a central role in the bank’s digital transformation strategy.
According to the results, FCMB’s digital business contributed 13.7% (N113.6 billion) to the group’s total gross revenue of N828.1 billion, highlighting strong adoption of the bank’s digital channels and services.
Digital Revenue Soars 54% Year-on-Year
FCMB experienced a 54% year-on-year increase in digital revenue, rising from N73.6 billion in September 2024 to N113.6 billion in September 2025. This growth reflects rising customer usage of the bank’s apps, digital loan offerings, payments platform, and wealth management tools.
The bank attributed this surge to improving customer experience and the deployment of its in-house core banking platform, which has:
- Accelerated product innovation
- Reduced reliance on third-party technology vendors
- Lowered long-term technology ownership costs
Digital Transformation Boosting Efficiency
FCMB noted that its digital banking implementation has led to significant improvements in operational efficiency.
“Automating various processes has reduced manual workloads, lowered costs, and enhanced profit margins,” the group stated.
The core banking platform has now been rolled out across FCMB’s three main operating units:
- Commercial and Retail Banking
- Investment Banking
- Asset and Wealth Management
Breakdown of Digital Revenue: N133.6 Billion Across Divisions
FCMB’s digital business arm generated N133.6 billion in the nine-month period, broken down as follows:
1. Digital Lending – N84.5 Billion (74.4%)
Digital lending remains the dominant contributor to FCMB’s digital revenue.
Key drivers include:
- Over N357 billion in loan disbursements via digital channels in 2024
- More than 1.6 million individual loans issued digitally
- 18,000 SME loans disbursed in 2024
FCMB offers a wide suite of digital loan products, such as:
- FastCash loans
- Salary-Plus loans
- SME Digital Loans
- Nano Loans
Customer uptake of these loan products continues to fuel overall digital growth.
2. Digital Payments – N26.1 Billion (23%)
FCMB’s digital payments segment recorded strong performance with N26.1 billion, indicating rising customer adoption of electronic payment channels.
Digital payment services include:
- Transfers and bill payments
- Bulk transfers via FCMBOnline Business
- POS transactions
- Card payments
- USSD and app payments
- Online merchant payments
- FCMBCollect for business collections and inventory tracking
3. Wealth Management and Other Digital Services
The bank’s digital wealth and asset management offerings continue to expand, enabling customers to access savings, investments, and advisory services directly through digital platforms.
Conclusion
FCMB’s 2025 nine-month results highlight the growing importance of digital transformation in Nigeria’s banking sector. With strong revenue from digital lending, expanding payment channels, and a proprietary core banking platform, FCMB is well-positioned to scale further as more customers embrace digital financial services.
