FCMB Forecasts N45.883 Billion Gross Earnings for Q3 2021

FCMB Group Plc, one of the leading financial institutions in Nigeria,  has predicted gross earnings of N45.883 billion for the third quarter (Q3) ended 30 September 2021.

The lender projected N3.794 billion profit before tax while profit after tax was estimated at N3.378 billion. See the details below

FCMB Projections for Third Quarter Ending 30 September 2021.

Gross earnings N45,882,672,000
Interest income N36,602,492,000
Interest expense (N15,163,605,000)
Net interest income N21,438,887,000
Foreign Exchange Earnings N126,547,000
Securities Trading N1,401,135,000
Contingent Income N198,228,000
Transaction Commissions N6,760,618,000
Other Income N793,653,000
Net operating income N30,719,067,000
(Loan Losses)/Writebacks (N3,126,534,000)
Operating Expenses (N23,798,774,000)
Profit before taxation N3,793,759,000
Taxation (N415,507,000)
Profit after taxation N3,378,252,000