FCMB Group forecasts N79.34 billion in gross earnings

Big money for investors? FCMG group estimates N79.3 billion in gross earnings in the first quarter of 2023. Earning forecast tells investors about what to expect from companies that are publicly traded. This also means that they become attractive when a company estimates a decent number before the quarterly report.

According to reports, FCMG group is expected to earn N63.82 billion in interest income, and the company is also expected to earn N9.58 billion before tax and N8.48 billion post-tax, respectively.  

FCMB is a bank in Nigeria, the First City Monument bank was formed in 1977 as a microfinance bank. The company has grown to become one of the largest banks in Nigeria. Its headquarters is in Lagos, Nigeria.  FCMB stock is selling at N3.50 per share, it 52 weeks range was c2.85 – 3.88, and FCMB Group’s market cap stood at N69.31 billion as of December 27, 2022.