2025 Audited Results May Be Delayed, FCMB Group Alerts Investors
FCMB Group Plc has notified the investing public and the Nigerian capital market that it may delay the release of its audited financial statements for the financial year ended December 31, 2025. The disclosure, made through a regulatory filing to the Nigerian Exchange Limited (NGX), indicates that the delay is linked to pending regulatory approval from the Central Bank of Nigeria (CBN).
Under existing listing rules, publicly listed companies are required to submit their audited financial statements within three months after the end of the financial year, meaning the deadline for FY2025 results is March 31, 2026. However, FCMB has indicated that it may not meet this timeline due to the outstanding regulatory review.
The announcement has drawn attention from investors and market watchers, as audited financial statements provide critical insights into a company’s profitability, asset quality, risk exposure, and dividend outlook.
Regulatory Approval Delaying Publication
According to the bank’s official notice to the NGX, the audit process has already been completed, but the financial statements cannot be publicly released until the CBN grants its final approval.
In the statement signed by the company secretary, Olufunmilayo Adedibu, the group explained that it is actively engaging with the apex bank to conclude the approval process.
The filing stated that the audited results will be submitted immediately after the regulatory clearance is obtained, which is expected to occur shortly after the March 31 deadline if approval is not secured beforehand.
Such regulatory reviews are a standard procedure for banking groups in Nigeria. Financial institutions are required to obtain approval from the CBN before publishing audited financial results to ensure that the accounts comply with prudential guidelines, capital adequacy standards, and regulatory reporting requirements.
NGX Filing Requirements for Listed Companies
The NGX post-listing rules mandate that all listed companies release their audited financial statements within 90 days after the end of the financial year. This ensures timely disclosure of financial performance and transparency for investors.
For financial institutions such as FCMB, the process involves multiple layers of oversight. These include internal auditing, external auditing by independent auditors, board approval, and final regulatory clearance from the CBN before public disclosure.
Because of these additional regulatory steps, banks sometimes experience delays in publishing audited results, particularly when the regulator requires further review or clarification of financial data.
FCMB’s situation therefore reflects the complex regulatory environment in which Nigerian banks operate.
Strong Financial Performance in 2025
Despite the expected delay in publishing its audited accounts, reports suggest that FCMB recorded strong financial performance in the 2025 financial year.
According to available disclosures and industry reports, the group achieved substantial growth in revenue and profitability during the year.
Key performance indicators highlight this improvement:
- Gross revenue: Approximately ₦1.126 trillion, representing a 42% increase year-on-year
- Net profit: About ₦176.9 billion, more than double the ₦73.3 billion recorded in 2024
- Shareholder equity: Rose to about ₦822.4 billion from ₦688.2 billion the previous year
- Earnings per share: Increased to ₦3.96 compared with ₦2.46 in 2024
The growth was largely driven by strong interest income, which climbed to over ₦1 trillion as lending activities and investment yields improved.
This performance reflects the bank’s expanding loan portfolio, increased interest rate environment, and strategic growth initiatives across its subsidiaries.
Rising Credit Risks and Regulatory Costs
While FCMB’s earnings performance improved significantly, the bank also experienced higher credit risk exposures during the year.
Reports indicate that net impairment losses on financial assets increased sharply, rising to about ₦92.5 billion compared with ₦43.8 billion in the previous year.
Impairment losses typically arise when loans or financial assets are considered unlikely to be fully recovered. Rising impairment charges often signal growing credit risk in the banking sector, especially during periods of economic volatility.
Additionally, the bank faced increased regulatory costs during the year. Regulatory fines reportedly climbed to about ₦490 million, up from approximately ₦136 million in 2024.
Despite these challenges, the bank’s overall financial position remains strong, supported by solid liquidity levels and a robust capital base.
Investor Expectations and Market Implications
For investors, the release of audited financial statements is one of the most important disclosures in the financial calendar. The results provide a complete overview of a company’s financial health and guide investment decisions.
Analysts will particularly focus on several key indicators when FCMB eventually releases its FY2025 audited results:
- Asset quality and loan performance
- Capital adequacy ratios
- Profit sustainability
Dividend policy and payout expectations
The delay itself is unlikely to cause significant concern if the audited results are released shortly after the regulatory deadline, especially since the reason for the postponement is regulatory approval rather than accounting issues.
Broader Context: Regulatory Oversight in Nigerian Banking
The Nigerian banking sector operates under strict supervision from the CBN. Regulatory approval of audited financial statements helps ensure the integrity of financial disclosures and protects depositors and investors.
Banks are required to comply with several prudential requirements, including:
- Capital adequacy thresholds
- Liquidity ratios
- Loan classification standards
- Risk management frameworks
Because audited results reflect compliance with these rules, the CBN’s final approval is considered a crucial step before public release.
Outlook for FCMB
FCMB has reassured stakeholders that it remains committed to transparency and regulatory compliance. The group has pledged to notify the market immediately once the CBN grants approval and the audited results are ready for publication.
Given the strong underlying performance reported for 2025 and the bank’s ongoing strategic initiatives including capital raising and expansion efforts the eventual release of the audited results is expected to provide deeper insights into the group’s growth trajectory.
For now, investors and analysts will be watching closely as the bank works to secure regulatory clearance and finalize its 2025 financial reporting.
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