First HoldCo Plc’s share worth gained 10% on Friday to shut the week at N144.10 following the discharge of its nine-month outcomes.
The group’s unaudited monetary statements confirmed a 60.84% year-on-year improve in profit earlier than tax to N911.24 billion for the 9 months ended September 30, 2026.
The share-price gain lifted its market capitalisation to about N6.5 trillion. Market knowledge
First HoldCo profit hits N911 billion
First HoldCo reported group profit before tax of N911.24 billion for the 9 months ended September 30, 2026, in contrast with N566.54 billion within the corresponding interval of 2025. The outcomes additionally confirmed increased pre-tax profit within the third quarter and a rise in profit after tax over the nine-month interval.
- In the third quarter alone, pre-tax profit rose by 22.49% to N257.71 billion, in contrast with N210.39 billion in Q3 2025.
- Profit after tax elevated by 65.11% to N744.45 billion for the 9 months, up from N450.87 billion within the corresponding interval of 2025.
- Stronger price and fee earnings, positive factors from monetary devices and better different working earnings supported the earnings efficiency, serving to to offset the decline in web curiosity earnings.
- Lower impairment costs additionally supported profitability through the interval, alongside the stronger contributions from charges, monetary devices and different working earnings.
The group subsequently recorded increased pre-tax and after-tax earnings regardless of the contraction in web curiosity earnings through the nine-month reporting interval. Earnings report
First HoldCo rebounds after 2025 write-offs
First HoldCo’s outcomes adopted a troublesome 2025, when the financial institution recorded vital write-offs in keeping with the Central Bank of Nigeria’s prudential necessities for non-performing loans. Since then, the financial institution has recapitalised and restructured its operations, returning to stronger profitability in 2026.
- The firm’s shares have risen sharply throughout 2026, climbing from the N46 opening degree acknowledged within the draft to a excessive of N165 per share earlier than the latest pullback.
- Friday’s 10% gain adopted that pullback, taking the closing share worth to N144.10 and the corporate’s market capitalisation to about N6.5 trillion.
- Billionaire investor Femi Otedola stays the most important shareholder, with an possession curiosity of about 26.71%, in contrast with the sooner 16.1% holding cited within the draft.
The newest outcomes place the financial institution’s restoration from the earlier yr’s write-offs alongside a considerable rise in its share worth throughout 2026, though the inventory stays beneath its N165 excessive for the yr.
Nigerian banks face earnings pressures
Nigerian banks have confronted stress on earnings progress in 2026 as rates of interest ease and the foreign-exchange windfalls of earlier years diminish. First HoldCo’s outcomes come as a number of different lenders are nonetheless awaiting regulatory clearance to publish their half-year monetary statements.
- UBA, Access Holdings and Fidelity Bank have but to launch their half-year outcomes, with the delays attributed to pending approval from the Central Bank of Nigeria.
- GTCO and Zenith Bank have launched their half-year monetary statements, though their nine-month outcomes stay excellent
- First HoldCo’s nine-month figures confirmed stronger price and fee earnings, positive factors from monetary devices, increased different working earnings and decrease impairment costs serving to to offset weaker web curiosity earnings.
