FCMB Group Plc has projected a post‑tax profit of N62.5 billion for the first quarter of 2026, representing a 94.08 % year‑on‑year increase from the N32.2 billion recorded in Q1 2025. The bank had previously forecast a Q1 2025 post‑tax profit of N31.2 billion in December 2024, which it exceeded by N940.2 million. Its Q2 2025 estimate of N36.6 billion was also surpassed, with a post‑tax profit of N41.1 billion, and the Q3 forecast of N39.3 billion was outperformed with N52 billion.
Pre‑tax profit rose 46 % to N134.4 billion, driven largely by a 64 % increase in interest income to N734.1 billion. Interest from loans and advances to customers grew 46 % and accounted for 63 % of total interest income. Interest costs rose 41 % to N383.2 billion, reflecting higher customer deposit costs, which grew 19 % year‑on‑year to N255.6 billion. The bank’s deposit base expanded by N99.27 billion to N4.4 trillion, underpinning a strong net interest income of N350.83 billion, up 102 % year‑on‑year. Net fees and commissions increased to N56.1 billion from N41.4 billion.
After impairment charges and other operating expenses, operating profit remained robust at N134.2 billion, a 46.14 % rise. Total assets grew 2.52 % to N7.23 trillion, supported by customer deposits, loans and advances, securities investments, and cash equivalents. Shareholders’ funds increased by N116.95 billion over nine months, bolstered by higher share premium and share capital. Year‑to‑date, FCMB has delivered a return of over 14 % to investors on the Nigerian Exchange, with the share price currently at N10.75.
The projected profit increase for Q1 2026 signals a strong start to the year for FCMB Group Plc. The bank’s ability to retain a larger portion of its earnings further underscores its positive outlook. As it continues to expand operations and grow assets, FCMB is likely to remain a major player in Nigeria’s financial sector.
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