FCMB Group signals possible delay in publishing 2025 audited performance

FCMB Group Plc has disclosed that it may experience delays in publishing its Audited Financial Statements on the Nigerian Exchange ahead of the March 31, 2026 deadline.

In a notice filed on the Exchange, the group explained that the possible delay stems from pending approval of its audited performance by its primary regulator, the Central Bank of Nigeria.

According to the notice, the group is working to complete the process and expects to submit the audited results to the Nigerian Exchange once regulatory approval is received, likely before or shortly after March 31.

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The disclosure follows the release of its unaudited results on January 29, 2026, where FCMB reported a pretax profit of N200.91 billion, up 80% year-on-year.

**What the data is saying **

A closer look at the unaudited results shows that interest income drove most of the profitability, rising 61% year-on-year to N1.002 trillion from N621.8 billion recorded in the previous year.

• Of this total, loans and advances to customers contributed the largest share at N610.9 billion, while interest from investment securities at amortised cost followed as the second-largest contributor at N148.8 billion.
• After interest expenses of N499.2 billion were accounted for, net interest income rose sharply to N502.8 billion, representing a 123% increase compared with the previous year.

The group also generated income from fees and commissions, with net fees and commission income rising to N73.8 billion from N58.7 billion in the previous year.

• Net trading income stood at N39.2 billion, but after impairments of N86 billion, personnel expenses of N105.9 billion, administrative costs of N127 billion, and other expenses, operating income settled at N200.1 billion.

Adding share of post-tax income from associates of N758.5 million brought the group’s pretax profit to N200.9 billion for the period.

**Get up to speed **

According to the unaudited financial statements, the group’s total assets swelled to N7.5 trillion from N7.05 trillion recorded in 2024.

• Loans and advances to customers (N2.2 trillion), investment securities (N2.05 trillion), cash and cash equivalents (N1.3 trillion), and restricted reserve deposits (N1.1 trillion) ranked among the group’s largest assets.
• Equity stood at N823.4 billion, with retained earnings contributing N309.1 billion, up from N188.4 billion in 2024, while total liabilities edged up 5.6% to N6.6 trillion.

On the Nigerian Exchange, shares of the company are up 6.22% year-to-date at N12.80 per unit, with most gains recorded in February 2026 after the results were released on January 29.

The stock surged 25.23% in February, but declines in January and early March trimmed the overall performance to a 6.22% year-to-date gain as of pre-market on March 5, 2026.

**What you should know **

According to a December earnings forecast, the group projects a pretax profit of N62.5 billion in Q1 2026, representing a 94% increase from N32.2 billion recorded in Q1 2025.

• In mid-February, Nairametrics reported that the bank is close to meeting the N500 billion recapitalization target, citing information gathered from reliable sources within the Central Bank of Nigeria.
• The company is still expected to remain profitable, based on indications that may be reflected in its forthcoming audited financial statements.

The market may also begin pricing the dip around the N12 to N13 range per share, which could potentially support upward momentum in the stock price.

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