FCMB Group has projected gross earnings of N226.93bn for the first quarter ending March 31, 2025.
In its earnings forecast filed with the Nigeria Exchange recently, the bank expects interest income to reach N197.4bn, with interest expense projected at N101.99bn, resulting in a net interest income of N95.4bn.
Additionally, FCMB anticipates N3.47bn in foreign exchange earnings and N3.62bn from securities trading. Transaction commissions are forecast to contribute N18.12bn, while other income is expected to reach N3.15bn. This brings the bank’s total net operating income for the quarter to N124.93bn.
On the expense side, FCMB forecasts loan losses/writebacks of N11.44bn and operating expenses of N79.87bn. The bank is expecting a profit before tax of N33.62bn and a profit after tax of N31.29bn, following a tax expense of N2.33bn.
For cash flow, FCMB Group projects operating cash flow before working capital changes to a total of N49.25bn.
After working capital changes and taxes, the net cash generated from operating activities is expected to be N58.35bn. The bank also forecasts a net increase in cash and cash equivalents of N32.98bn, bringing the total cash and cash equivalents at the end of Q1 2025 to N708.31bn.
Last week, 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.
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