FCMB forecasts N45.5 bln earnings for Q4 2020
First City Monument Bank (FCMB) has projected that its will record total earnings of N45.46 billion at the end of the fourth quarter ending December 31.
The lender in a regulatory filing indicating its earning forecast, said it is expected its profit before tax to hit N4.70 billion and profit after tax at N4.13 billion at the end of the fourth quarter.
The bank, however, did not reveal its earnings forcast for the ongoing third quarter of the year.
The group posted a profit before tax (PBT) of N11.1 billion, 26 percent growth compared with N8.8 billion in the corresponding period in 2019.
The half-year results also showed that the Group recorded an increase in gross revenue by 9 percent to N98.2 billion as against N89.8 billion for the same period last year.
Net interest income equally rose by 17 percent for the first half of 2020 to N45.4 billion from N38.7 billion posted in the first half of 2019, while non-interest income stood at N17.5 billion, an increase of 14 percent compared to N15.3 billion within the six months last year.