FCMB Group, one of Nigeria’s tier-two banks, has projected an after-tax profit of N62.5 billion in the first quarter of 2026, according to its latest earnings forecast on the Nigerian Stock Exchange.
The projection indicates a 77.5 percent increase from the N35.2 billion recorded in Q1 last year. Other income is projected to be N1.8 billion compared to N140 million. Gross earnings is expected to rise to N293 billion as against N252 billion reported in Q1’25.
The group projected a net interest income of N137 billion after deducting interest expense from the group’s interest income, representing a 57 percent rise from the N87 billion reported last year.
However, FCMB has reported a profit before tax of N134.497 billion for the nine months ended 30 September 2025, representing a 46.2 percent increase from the N91.83 billion posted in the same period last year.
For Q3’25 alone, the group’s unaudited financial statement filed with NGX revealed that pre-tax profit grew by 100.47 percent to N55.37 billion, compared to N27.62 billion in Q3 2024.
On the revenue front, FCMB reported a significant 40.89 percent growth in gross earnings, which totaled N828.128 billion in 9M 2025, up from N587.773 billion in the same period of 2024.
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On the expense side, interest expenses rose by 41 percent, reaching N383.28 billion for the period. This increase was mainly due to higher costs associated with customer deposits, which grew by 19 percent YoY to N255.6 billion, accounting for 67 percent of total interest expenses.
FCMB increased its deposit base by N99.27 billion to N4.4 trillion. Despite the rise in interest expenses, FCMB managed to maintain a strong net interest income. The net interest income for the nine months ended September 30, 2025, stood at N350.83 billion, reflecting a solid 102 percent YoY growth.
After accounting for impairment charges of N57.12 billion, net interest income after impairment reached N293.71 billion, an increase of 127 percent from the previous year’s N129.37 billion.
On shareholders’ funds, FCMB saw a rise of N116.95 billion in nine months, driven by a N22.73 billion increase in its share premium and share capital account, bringing the total to N288.96 billion.
Additionally, retained earnings increased by N103.47 billion, accounting for over 36 percent of shareholders’ funds.