FCMB Group Plc has notified the Nigerian Exchange (NGX) and the public that it will not be able to release its nine-month (Q3) 2025 financial results by the original deadline of 30th October 2025.
The company made the announcement in a statement signed by its Company Secretary, Mrs. Olufunmilayo Adedibu, and published on the NGX.
FCMB explained that the delay is due to the ongoing interim audit of its largest subsidiary, First City Monument Bank Limited, for the period ending 30th September 2025.
The group noted that the audit of the subsidiary’s accounts has a material impact on its consolidated financial statements, making the extension necessary.
Accordingly, the group’s consolidated third-quarter 2025 results are expected on or before 29th December 2025.
Despite the delay, FCMB’s third-quarter performance is likely to meet expectations, judging from how previous estimates surpassed forecasts.
Earnings Forecast:
For the first quarter of 2025, FCMB had projected a post-tax profit of N31.2 billion, but the actual result came in slightly higher at N32.2 billion.
The trend continued in the second quarter, where the bank forecast a post-tax profit of N36.6 billion, yet reported N41.1 billion when the results were released.
Looking ahead to Q3, FCMB has set a post-tax profit forecast of N39.3 billion. Given how previous results have exceeded expectations, the bank is likely to meet or even surpass this target.
Much of this performance is driven by a strong top line, with net interest income for the first half of 2025 reaching N207.4 billion, representing a 95.3% increase year-on-year.
Income sources:
Interest and discount income stood at N458.4 billion, up 70.3%, driven largely by loans and advances to customers, which accounted for N299.1 billion.
Despite interest expenses of N251 billion, FCMB recorded a net interest income of N207.4 billion, marking a 95.3% year-on-year increase.
Non-interest income also remained strong.
- Fees and commission income rose to N47.3 billion from N36.1 billion in H1 2024. After accounting for fees and commission expenses of N9.4 billion, the company reported a net fee and commission income of N37.9 billion, up 51.3%.
Net trading income was N22.1 billion, although this represented a decline compared to N31.3 billion in the same period in 2024.
Despite increases in operating expenses, FCMB recorded gains from operating activities of N79.3 billion, up from N64.2 billion. This contributed to a pretax profit for the half of N73.4 billion, representing a 23.4% increase year-on-year.
