First HoldCo PLC Reports N450.9 Billion Profit, Advances CBN Recapitalization Plans

First HoldCo PLC announced a strong financial performance with a profit of N450.9 billion for the nine months ending September 30, 2025. The company is ramping up efforts to meet the Central Bank of Nigeria's new N500 billion recapitalization threshold for commercial banks.

Despite a 15.5% decline compared to the previous year, the group's gross earnings surged by 17.1% to N2.63 trillion, largely driven by interest income growth. The company's cautious approach amid volatile market conditions led to notable gains in fee and commission income, as well as a major turnaround in net foreign exchange gains.