By Ayomide Otitoju
FCMB Group Plc has projected a profit after tax of N36.6 billion for the second quarter ending June 30, 2025. According to the group’s earnings forecast, gross earnings are expected to reach N239.4 billion, with interest income projected at N209.1 billion.
Interest expenses are estimated at N107.9 billion, leaving a net interest income of N101.2 billion. The forecast also anticipates foreign exchange earnings of N3.7 billion, securities trading income of N3.6 billion, and contingent income of N1.2 billion. Transaction commissions are expected to generate N18.6 billion, while other income is projected at N3.2 billion, bringing net operating income to N131.5 billion.
Loan losses and writebacks are forecasted at a negative N11.4 billion, while operating expenses are expected to reach N80.5 billion. The group anticipates a profit before tax of N39.5 billion, with a tax provision of N2.9 billion, resulting in a projected profit after tax of N36.6 billion.
In its cash flow projection, FCMB expects a net cash inflow of N64.3 billion from operating activities, with a net increase in cash and cash equivalents of N38.9 billion. This would bring its cash balance to N714.2 billion by the end of the quarter.
The projection follows FCMB Group’s reported profit after tax of N82.4 billion for the nine months ending September 30, 2024, reflecting a 68% increase from N49.2 billion recorded in the same period the previous year. The significant growth in PAT was driven by a 67% surge in gross earnings to N587.8 billion, up from N351.5 billion in the prior year. Interest and discount income grew by 86% to N445.8 billion, supported by a 44% rise in net interest income to N173.8 billion from N120.5 billion.
