First HoldCo Plc Reports ₦3.4 Trillion Earnings in 2025

First HoldCo Plc announced its gross earnings reached ₦3.4 trillion for the financial year ending December 31, 2025, reflecting a 6.9% increase from ₦3.1 trillion in 2024. The group's growth was attributed to robust core banking activities and a diversified income base, despite a profit tax decrease of 70.5% to ₦235.0 billion.

The results showed a 93.8% rise in impairment charges and a normalization of foreign exchange gains compared to the previous year. Total assets grew by 2.7% year-on-year to ₦27.3 trillion, up from ₦26.5 trillion in 2024.

The group’s managing director, Wale Oyedeji, noted that gross earnings growth was underpinned by a 36.8% increase in net interest income and continued momentum in digital transactions. The bank's capital base was enhanced significantly, with total shareholder funds rising to ₦2.8 trillion from ₦3.3 trillion.

The non-performing loan (NPL) ratio rose to 12.0% in 2024 from 10.2%, largely due to increased impairment charges linked to exposure in the oil and gas sector.