FirstHoldCo Leads Five Banks with N2.29tn Profit in 2026

In the first half of 2026, five financial institutions recorded a combined profit before tax of approximately N2.29 trillion, driven by stronger interest income, trading gains, improved asset quality, and expanding non-interest revenue. The institutions surveyed by Daily Trust include FirstHoldCo Plc, Zenith Bank Plc, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Company Limited.

FirstHoldCo emerged as the most profitable, reporting N653.5 billion, an 83.5% year-on-year increase. The Group's gross earnings reached N1.93 trillion, a 16.7% increase from the previous year, with operating income rising by 25.8% to N1.38 trillion.

Zenith Bank followed with a profit before tax of N637.6 billion, a 1.91% increase from the previous year, supported by lower funding costs and improved net interest margins. The report also noted that some tier one lenders, including United Bank for Africa PLC and Fidelity Bank, received regulatory approval to extend the release of half-year results.