FCMB Group Plc has released its earnings forecast, projecting a post-tax profit of N62.5 billion for the first quarter of 2026. This represents a 94.08% year-on-year increase from the N32.2 billion recorded in Q1 2025. The bank had previously projected a Q1 2025 post-tax profit of N31.2 billion in December 2024, which was surpassed by N940.2 million. Similarly, its Q2 2025 estimate of N36.6 billion was exceeded, with a post-tax profit of N41.1 billion, while the Q3 forecast of N39.3 billion was surpassed at N52 billion.
The bank’s pre-tax profit rose 46% to N134.4 billion, driven largely by an increase in interest income. Interest income rose 64% to N734.1 billion, mainly due to a 46% growth in interest from loans and advances to customers, which accounted for 63% of total interest income. Interest costs increased 41% to N383.2 billion, driven by higher customer deposit costs, which grew 19% year-on-year to N255.6 billion.
FCMB also expanded its deposit base by N99.27 billion to N4.4 trillion, supporting a strong net interest income of N350.83 billion, up 102% year-on-year. Net fees and commissions income rose to N56.1 billion from N41.4 billion. After accounting for impairment charges and other operating expenses, operating profit remained solid at N134.2 billion, marking a 46.14% increase.
The bank’s total assets grew by 2.52% to N7.23 trillion, supported by customer deposits, loans and advances, investments in securities, and cash and cash equivalents. Shareholders’ funds rose by N116.95 billion over nine months, supported by increases in share premium and share capital. Year-to-date, FCMB has delivered over 14% return to investors on the Nigerian Exchange, currently priced at N10.75.
The projected increase in profit for Q1 2026 is a significant development for FCMB Group Plc, indicating a strong start to the year. The bank’s ability to retain more of its profits over the year, as reflected in its retained earnings, is also a positive sign. As the bank continues to expand its operations and increase its assets, it is likely to remain a major player in the Nigerian financial sector.
