FirstHoldCo Reports N321bn Profit in Q1 2026

FirstHoldCo PLC (NGX: FIRSTHOLDCO) announced a profit before tax (PBT) of N321.12 billion for the first quarter of 2026, reflecting a 100% year-on-year growth compared to N186.48 billion in the same period of 2025. This significant increase is driven by strong interest income and robust fee generation, alongside improved operational efficiency.

FirstHoldCo, the parent company of FirstBank Nigeria Limited, has emerged as Nigeria's second-largest profit lender, following Zenith Bank PLC (NGX: ZENITHBANK), which reported a PBT of N360.91 billion. The company's strategic focus on cleaning non-performing assets and a successful balance sheet restructuring in 2025 have contributed to this turnaround.

Analysts noted that FirstHoldCo's return on equity (ROE) climbed to 31.6% in Q1 2026, up from 4.6% in December 2025. The group's total assets stood at N26.8 trillion as of March 2026, reflecting a stable strategic position and improved asset quality, which supports sustained growth in the Nigerian banking sector.