FCMB, Wema Bank and First HoldCo submit early Q4 results as NGX filings divide banks
FCMB Group Plc, Wema Bank Plc and First HoldCo Plc have taken the lead in Nigeria’s 2025 full-year financial reporting season by submitting their fourth-quarter and full-year results well within the 30-day interim filing window prescribed by the Nigerian Exchange (NGX).
These early filings, completed before the end of January, place the three financial institutions among the first banks to communicate their full-year performance to investors and underscore a commitment to timely disclosure in an environment where regulatory compliance and market confidence are critically linked.
Under NGX’s rules for the filing of accounts, listed companies can choose between an interim unaudited filing due within 30 calendar days after the financial year-end, or a fully audited filing due within 60 calendar days. By opting for the interim route and filing their results before the January deadline, FCMB, Wema Bank and First HoldCo have provided the market with an early glimpse of their financial outcomes, ahead of the audited statements that will follow.
FCMB’s decision to file its unaudited year-end results on January 29 reflects a broader narrative of improving financial performance. The group recently reported a robust profit after tax of ₦177 billion for the year ended December 31, 2025, marking a significant year-on-year increase that was driven by strong growth in interest income and non-interest revenue streams.
Gross earnings for the period rose sharply to ₦1.13 trillion, reflecting heightened lending activities and broader revenue diversification efforts.
This positive trajectory, combined with the timely filing, suggests FCMB’s confidence in its operating resilience and strategic execution, even as it navigated an interim audit delay for its Q3 2025 results due to auditing activities at its core banking subsidiary.
Wema Bank also met the interim filing deadline, signalling discipline in financial reporting and operational transparency. Prior to the year-end reporting cycle, the bank strengthened its capital base through the successful listing of additional ordinary shares on the NGX following a N50 billion private placement.
This capital enhancement sits alongside strong performance indicators seen in past reporting periods, including gains from foreign exchange revaluation and significant improvements in fee and interest incomes.
First HoldCo’s early filing on January 30 reflects a similar approach to timely disclosure. In preceding interim results, the group posted solid gross earnings growth, supported by strong interest income performance, even as profitability metrics experienced some compression due to strategic balance-sheet adjustments.
The early unaudited filing positions the company well ahead of larger banks that are electing the audited filing route, indicating a proactive stance in investor communication.
In contrast to these early filers, a number of larger Tier-1 banks such as Stanbic IBTC Holdings Plc, Guaranty Trust Holding Company Plc, Zenith Bank Plc, Access Holdings Plc, United Bank for Africa Plc and Fidelity Bank Plc have opted for the 60 days audited filing avenue, citing board approvals and regulatory clearances that must precede final account sign-off.
These institutions have issued formal notices outlining planned board meetings and engagements with the Central Bank of Nigeria ahead of releasing audited results, a path that, while offering a more rigorous review, delays market access to complete financial data.
The divergence in filing timelines highlights differing strategic priorities among Nigeria’s banks. Early unaudited filings provide investors with faster access to performance metrics and can help sustain market confidence during earnings season. Conversely, the extended audited route favoured by larger banks may reflect complex operational structures and the need for comprehensive regulatory scrutiny before public release.
As the NGX earnings season advances, analysis of these filings will play a central role in shaping investor sentiment, influencing valuations and offering deeper insight into the resilience and competitive positioning of Nigeria’s banking sector.
Read Also:
- Tier 3 Account Requirements ( All Banks)
- BUA Cement Stock Drops 5% as Market Volatility Pressures Investors
Comments