FCMB Group Plc says it expects to post N62.5 billion profit after tax in the first quarter of 2026, according to its newly released earnings forecast.
The projection represents a 94% rise from the N32.2 billion recorded in Q1 2025. Okay News reports that the bank has a pattern of beating its own forecasts.
FCMB slightly exceeded its Q1 2025 estimate of N31.2 billion after closing the period at N32.2 billion. It also topped its Q2 expectation of N36.6 billion with N41.1 billion and beat its Q3 projection of N39.3 billion by delivering N52 billion.
The bank’s nine-month performance supports the outlook, with pre-tax profit rising 46% to N134.4 billion.
FCMB’s interest income rose 64% to N734.1 billion, driven mainly by loans and advances, which contributed N464 billion. Interest expenses increased 41% to N383.2 billion, largely due to higher customer deposit costs.
Customer deposits grew to N4.4 trillion, strengthening net interest income, which climbed 102% to N350.83 billion. Net fees and commissions rose to N56.1 billion from N41.4 billion.
After impairment charges of N57.12 billion and other operating expenses, operating profit closed at N134.2 billion, up 46%.
Total assets rose to N7.23 trillion, supported by customer deposits, loans, investments in securities, and cash balances. Shareholders’ funds increased by N116.95 billion over nine months, while retained earnings grew to N291.9 billion from N188.4 billion.
FCMB has gained more than 14% year-to-date on the Nigerian Exchange, trading at N10.75.
