By Seun Ibiyemi
First City Monument Bank (FCMB) Group Plc has projected a profit after tax (PAT) of N58.8 billion for the fourth quarter of 2025, according to its latest earnings forecast filed with the Nigerian Exchange (NGX).
If achieved, the projection would bring the lender’s full-year profit to N171.5 billion—more than double the N73 billion it reported in the 2024 financial year.
The forecast, a regulatory requirement for listed companies, offers investors a forward view of expected performance.
Analysts note that FCMB’s track record of outperforming projections suggests the Q4 estimate may be conservative, potentially leaving more upside for shareholders.
In Q1 2025, the bank forecast PAT of N31.2 billion but delivered N32.2 billion. For Q2, it projected N36.6 billion but posted N41.1 billion. Its Q3 projection was N39.3 billion, with actual results yet to be released.
On the revenue side, FCMB expects gross earnings of N265.2 billion in Q4, with interest income contributing N231.8 billion.
A major hurdle for the bank this year was the expiry of the Central Bank of Nigeria’s (CBN) loan forbearance regime, which compelled banks to fully recognize deferred impairments.
FCMB reported total earnings write-downs of N36.2 billion in H1 2025—far above its projected N11.3 billion—yet still managed to beat profit forecasts, underlining operational resilience.
Management confirmed that the bank has now fully exited forbearance, reducing the risk of further impairment shocks