For the first quarter of 2021, First City Monument Bank (FCMB) Group, has forecasted a dim outlook with the Profit Before Tax (PBT).
According to the forecast, the FCMB in the outlook with the PTB set to decrease to N4.2 billion in the aforementioned period.
Techeconomy.ng obtained this from the firm’s earnings forecast sent to the Nigerian Stock Exchange (NSE) on Tuesday, December 8.
This medium understands that the earnings forecast when compared with the firm’s last reported financial statement for Q3 2020, indicates a decline in some key financial metrics as follows:
- Gross earnings is set to decrease to N44.48 billion, -7.8% Q-o-Q.
- Profit Before Tax set to decline to N4.2 billion, –11.8% Q-o-Q.
- Profit After Tax set to decline to N3.5 billion, -16% Q-o-Q.
- Interest income is set to fall to N35.86 billion,-0.25% Q-o-Q.
- Interest expense is set to decline to N12.4 billion, -6.4% Q-o-Q
Other important earning forecast figures for Q1 2021 include:
- Net operating income projected at N32.05 billion
- Operating expenses projected at N23.69 billion.
- Loan losses/ write back-projected at N4.16 billion
- Foreign Exchange earnings projected at N400.2 million