By Segun-Ogundeyi Fiyinfoluwa
FCMB Group Plc has projected a profit after tax of N104.61 billion for the fourth quarter ending December 31, 2026, driven largely by interest income, according to an internal group earnings forecast.
The forecast, prepared before the close of the third quarter, contains management estimates and does not represent audited or publicly released financial results.
According to a statement from the bank released on the Nigerian Exchange Limited, NGX, the forecast puts gross earnings at N368 billion for the quarter, with interest income accounting for N321.91 billion, or about 87 per cent of the total.
Interest expense is projected at N140.25 billion, leaving net interest income of approximately N181.66 billion, equivalent to about 56 per cent of projected interest income.
The group is also expected to generate N33.86 billion from transaction commissions, while securities trading is projected at N7.56 billion.
Foreign exchange earnings and other income are estimated at N2.26 billion and N2.41 billion respectively.
On the expenditure side, the forecast puts loan-loss provisions at N13.21 billion, while operating expenses are estimated at N86.25 billion.
The bank noted that the figures are projected to result in a profit before tax of N128.29 billion.
After an estimated tax charge of N23.68 billion, profit after tax is projected at N104.61 billion.
The forecast also projects operating cash flow before working-capital changes at N213.78 billion. However, a projected N190.25 billion working-capital movement is expected to reduce net cash generated from operations to N22.17 billion. Investing activities are projected to generate N368.32 billion, while financing activities are expected to record an outflow of N48.71 billion. As a result, the group’s cash and cash equivalents are projected to rise from N677.49 billion at the beginning of the quarter to about N1.02 trillion by year-end.
The Q4 projection comes against the backdrop of strong first-half performance by the group. FCMB Group’s unaudited results for the six months ended June 2026, showing profit before tax rose to N157.30 billion, compared with N79.12 billion recorded in the corresponding period. Profit for the period stood at N139.86 billion, representing a significant increase from the previous year. The group attributed the performance to growth across its banking, consumer finance, investment banking and investment management businesses.
Based on the H1 result, the group recorded an average quarterly profit of about N69.93 billion. The projected Q4 profit after tax of N104.61 billion would therefore be higher than the H1 quarterly average, although the comparison does not represent a direct like-for-like measure of full-year performance. The figures are strictly as projections and not as FCMB Group’s actual fourth-quarter financial performance.
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