By Ayomide Otitoju
FCMB Group Plc has forecast gross earnings of N226.93 billion for the first quarter ending March 31, 2025. The projection, outlined in its earnings forecast filed with the Nigeria Exchange, highlights an expected interest income of N197.4 billion, with interest expenses pegged at N101.99 billion, resulting in a net interest income of N95.4 billion.
The bank also anticipates significant non-interest income streams, including N3.47 billion from foreign exchange earnings, N3.62 billion from securities trading, and N18.12 billion from transaction commissions. Other income is projected at N3.15 billion, bringing total net operating income for the quarter to N124.93 billion.
On the expense side, FCMB expects loan losses/writebacks of N11.44 billion and operating expenses of N79.87 billion. The forecast indicates a profit before tax of N33.62 billion and a profit after tax of N31.29 billion, after accounting for a tax expense of N2.33 billion.
In terms of cash flow, the bank predicts operating cash flow before working capital changes to total N49.25 billion, with net cash generated from operating activities projected at N58.35 billion after adjustments for working capital and taxes. A net increase in cash and cash equivalents of N32.98 billion is also anticipated, bringing total cash and cash equivalents to N708.31 billion by the end of Q1 2025.
This follows FCMB Group’s robust performance for the nine months ending September 30, 2024, where it reported a profit after tax of N82.4 billion, reflecting a 68% growth from N49.2 billion recorded in the same period in 2023.
The projection underscores FCMB’s optimism about sustaining its growth trajectory as it continues to capitalize on both interest and non-interest revenue streams.
