First HoldCo Plc Achieves N911bn Profit Before Tax in 2026

First HoldCo Plc's performance for the first nine months of 2026 shows significant growth, with profit before tax rising 60.8% year on year to N911.2 billion and profit after tax increasing 65.1% to N744.5 billion. The group's gross earnings reached N2.87 trillion, an 8.8% increase, while non-interest income surged 143.5% to N722.9 billion, driven by a 48.1% rise in net fee and commission income to N316.4 billion.

Operating income grew by 10.3%, and operating expenses decreased by 8.1% to N866.6 billion, resulting in a cost-to-income ratio of 43.7%, down from 52.4%. The post-tax return on average equity improved to 27.7% from 24.7%, and return on average assets rose to 3.3% from 2.6%.

Total assets increased 18.1% to N32.20 trillion, with customer deposits growing 21.3% to N22.91 trillion. Group equity rose 17.0% to N3.86 trillion, while net customer loans expanded by 4.8% to N9.39 trillion.