FCMB Reports Strong Earnings Amid Audit Delay Concerns

FCMB Group Plc has hinted at a delay in submitting its audited financial statements to the Nigerian Exchange, with a deadline of March 31, 2026, due to pending regulatory approval from the Central Bank of Nigeria (CBN). The bank's unaudited financial results released on January 29, 2026, showed robust growth, reporting a pre-tax profit of ₦22.91 billion, an 80% year-on-year increase, driven by a significant rise in interest income amid Nigeria's high-interest rate environment.

Interest income rose 61% to ₦1.002 trillion compared to ₦621.8 billion the previous year. The bank's net interest income increased by 123% to ₦502.8 billion.

However, the group faced operational costs and credit impairments totaling ₦86 billion. Analysts noted that delays in publishing audited results are not unusual in Nigeria's banking sector, particularly during regulatory transitions.

Looking ahead, FCMB projects a pre-tax profit of ₦62.5 billion for the first quarter of 2026, a 94% increase from ₦32.2 billion in the first quarter of 2025.