FCMB Signals Possible Delay in Filing 2025 Audited Financial Results

FCMB Group Plc has indicated that it may miss the deadline for submitting its audited financial statements for the 2025 financial year due to pending regulatory approval.

In a notice to the Nigerian Exchange, the financial services group explained that the delay is linked to the ongoing review of its audited results by the Central Bank of Nigeria.

The company stated that it expects to complete the process once the necessary regulatory clearance is obtained and intends to submit the audited statements before or shortly after the reporting deadline.

The update follows the earlier release of the group’s unaudited financial results, which showed strong earnings growth.

According to the figures, profit before tax rose to N200.91 billion, representing an 80 per cent increase compared with the previous year.

Interest income accounted for the largest share of earnings, rising significantly to N1.002 trillion from N621.8 billion recorded in the prior period. Loans and advances to customers generated the biggest portion of the interest income at N610.9 billion, while income from investment securities at amortised cost contributed N148.8 billion.

After deducting interest expenses of N499.2 billion, net interest income climbed sharply to N502.8 billion, marking a substantial increase from the previous year.

The group also recorded growth in income from fees and commissions, which rose to N73.8 billion from N58.7 billion. Net trading income was reported at N39.2 billion.

However, operating performance was affected by several cost components, including impairments amounting to N86 billion, personnel expenses of N105.9 billion, and administrative costs of N127 billion.

Despite these expenses, the group’s operating income remained strong, bringing profit before tax to N200.9 billion after accounting for additional income from associated entities.

The company’s financial position also expanded during the period, with total assets increasing to N7.5 trillion from N7.05 trillion recorded previously.

Loans and advances to customers stood at N2.2 trillion, while investment securities were valued at N2.05 trillion. Cash and cash equivalents reached N1.3 trillion, and restricted reserve deposits were reported at N1.1 trillion.

Shareholders’ equity rose to N823.4 billion, supported by retained earnings of N309.1 billion, compared with N188.4 billion recorded earlier. Total liabilities increased modestly to N6.6 trillion.

On the Nigerian Exchange, the group’s share price has recorded a modest gain since the beginning of the year, driven largely by strong investor response to the unaudited earnings results.