FCMB Group has projected a profit after tax of N36.6bn for the second quarter ending June 30, 2025.

The group’s earnings forecast shows that gross earnings are expected to reach N239.4bn, with interest income projected at N209.1bn.

Interest expenses are estimated at N107.9bn, leaving a net interest income of N101.2bn.

Foreign exchange earnings are forecasted at N3.7bn, securities trading at N3.6bn, and contingent income at N1.2bn. Transaction commissions are expected to generate N18.6bn, while other income is estimated at N3.2bn, bringing net operating income to N131.5bn.

Loan losses and writebacks are projected at a negative N11.4bn, while operating expenses are expected to hit N80.5bn. Profit before tax is forecasted at N39.5bn, with a tax provision of N2.9bn, leaving a profit after tax of N36.6bn.

In its cash flow projection, FCMB anticipates a net cash inflow of N64.3bn from operating activities. The group expects a net increase in cash and cash equivalents of N38.9bn, bringing its cash balance to N714.2bn by the end of the quarter.

Recall that FCMB Group Plc reported a profit after tax of N82.4bn for the nine months ending September 30, 2024, reflecting a 68 per cent growth compared to N49.2bn in the same period last year.

The growth in PAT was driven by an increase in the group’s gross earnings, which surged by 67 per cent to N587.8bn, up from N351.5bn in the previous year.

Interest and discount income, a key revenue driver, grew by 86 per cent to N445.8bn from N239.1bn, bolstered by a performance in net interest income, which rose by 44 per cent to N173.8bn from N120.5bn.

The PUNCH reported that FCMB Group’s profit before tax jumped by 192.6 per cent to N31.3bn in the first quarter of 2024.