FCMB Group Plc has projected a profit after tax of N104.61 billion for the fourth quarter ending Dec. 31, 2026, driven largely by interest income.
The projection is contained in an internal group earnings forecast released by the company on the Nigerian Exchange Ltd. (NGX).
The group, however, stated that the figures were management estimates prepared before the close of the third quarter and did not represent audited or publicly released financial results.
According to the forecast, gross earnings for the quarter are projected at N368 billion, with interest income accounting for N321.91 billion, representing about 87 per cent of the total.
Interest expense is estimated at N140.25 billion, resulting in projected net interest income of N181.66 billion.
The group also expects to generate N33.86 billion from transaction commissions, while securities trading is projected to contribute N7.56 billion.
Foreign exchange earnings and other income are estimated at N2.26 billion and N2.41 billion respectively.
On expenditure, loan-loss provisions are projected at N13.21 billion, while operating expenses are estimated at N86.25 billion.
The group said the projections would 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 puts operating cash flow before working-capital changes at N213.78 billion.
However, a projected N190.25 billion movement in working capital 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.
Consequently, 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 the group’s strong first-half performance.
FCMB Group’s unaudited results for the six months ended June 2026 showed that profit before tax rose to N157.30 billion, compared with N79.12 billion recorded in the corresponding period of the previous year.
Profit for the period stood at N139.86 billion, with the group attributing the performance to growth across its banking, consumer finance, investment banking and investment management businesses.
Based on the first-half results, 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 first-half quarterly average.
The group, however, noted that the comparison was not a direct like-for-like measure of full-year performance, stressing that the Q4 figures remained projections and should not be interpreted as actual fourth-quarter financial results.
