First HoldCo reports N737bn Q3 profit
Financial services holding company First HoldCo Plc has announced a profit before tax of N911.24bn for the nine-month period ended 30 September 2026.
The Board of Directors approved the unaudited financial statements on Friday, which reflect strong performance driven by robust contributions from its commercial banking and investment banking subsidiaries.
Operating across a challenging yet dynamic macroeconomic landscape, the financial institution has navigated evolving regulatory requirements, monetary policy adjustments, and foreign exchange fluctuations.
The group’s strategic positioning across commercial banking, asset management, and other financial services has enabled it to remain resilient, optimise capital allocation, and expand its market reach in Nigeria and abroad.
The report was signed on behalf of the Board by Group Managing Director Adebowale Oyedeji and Acting Chief Financial Officer Wasiu Shafe.
According to the financial report, the group recorded a profit after tax of N744.45bn for the period under review, compared to N450.86bn reported in the corresponding period of 2025.
Profit attributable to the owners of the parent surged to N737.93bn, translating to basic and diluted earnings per share of N16.45, up from N10.65 recorded in the previous year.
Gross earnings were bolstered by substantial interest income of N2.09tn alongside non-interest revenue streams, including net fee and commission income of N316.43bn.
The group’s total assets expanded significantly to N32.20tn as of 30 September 2026, up from N27.25tn at the close of December 2025. This asset growth was underpinned by increases in customer deposits, which rose to N22.91tn, and investment securities, which stood at N10.31tn.
Loans and advances to customers also grew to N9.39tn, reflecting sustained financial intermediation activities across its core commercial banking operations led by First Bank of Nigeria Limited.
The group affirmed compliance with regulatory requirements, noting a free float value of N3.66bn representing 50.29 per cent as of 30 September 2026, which satisfies the Nigerian Exchange Limited listing standards for the Premium Board.
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