By Seun Ibiyemi
FCMB Group Plc has projected a post-tax profit of N62.5 billion for the first quarter of 2026, signaling a 94.08 pet cent increase compared to the N32.2 billion recorded in Q1 2025, according to its recently released earnings forecast.
The bank has a consistent history of surpassing its own profit projections. In Q1 2025, FCMB had forecast a post-tax profit of N31.2 billion but exceeded it by N940.2 million.
Subsequent forecasts for Q2 and Q3 2025 were also exceeded, with actual post-tax profits reaching N41.1 billion and N52 billion, respectively. Analysts suggest the bank could again outperform its Q1 2026 forecast if positive market fundamentals continue.
The bank’s nine-month results to September 30, 2025, support this optimistic outlook. Pre-tax profit rose 46 per cent to N134.4 billion, largely driven by a surge in interest income, which jumped 64 per cent to N734.1 billion.
Interest from loans and advances grew 46 per cent to N464 billion, representing 63% of total interest income.
On the expense side, interest costs rose 41 per cent to N383.2 billion, driven by higher customer deposit costs, which increased 19 per cent year-on-year to N255.6 billion.
Meanwhile, FCMB expanded its deposit base by N99.27 billion to N4.4 trillion, supporting strong net interest income of N350.83 billion, up 102 per cent year-on-year. Net fees and commissions also increased to N56.1 billion from N41.4 billion.
After accounting for impairment charges of N57.12 billion and other operating expenses, operating profit remained solid at N134.2 billion, a 46.14 per cent increase.
FCMB’s total assets grew by 2.52 per cent to N7.23 trillion, supported by customer deposits (61% of assets), loans and advances (32%), investments in securities (21%), and cash and cash equivalents (22%).
On the equity side, shareholders’ funds increased by N116.95 billion over nine months, while retained earnings rose to N291.9 billion from N188.4 billion in December 2024.
Year-to-date, FCMB has delivered over 14 per cent return to investors on the Nigerian Exchange, with shares currently trading at N10.75, reflecting strong investor confidence in the bank’s continued profitability and growth trajectory.