FirstHoldCo Plc, the parent company of FirstBank Nigeria, has reported a profit before tax of ₦911.24 billion for the nine months ended September 30, 2026, representing a 60.8 per cent increase from ₦566.54 billion recorded during the corresponding period in 2025.
The financial services group also recorded a 65.1 per cent rise in profit after tax to ₦744.45 billion, compared with ₦450.87 billion in the same period last year, reflecting stronger contributions from fees, investment activities and reduced loan impairment charges.
According to the group’s unaudited financial results, gross earnings rose by 8.8 per cent to ₦2.87 trillion, up from approximately ₦2.64 trillion recorded a year earlier.
The performance came despite a decline in net interest income, which fell by 16 per cent to ₦1.26 trillion from ₦1.50 trillion, as income from other sources helped sustain overall profitability.
Net fee and commission income increased by 48.1 per cent to ₦316.43 billion, while impairment charges declined by 28.3 per cent to ₦207.10 billion, compared with ₦288.92 billion in the corresponding period of 2025.
The group also recorded stronger operating performance, with operating profit rising by 60.7 per cent to ₦909.36 billion from ₦565.91 billion in the previous year.
Its balance sheet expanded during the period, with total assets increasing to ₦32.20 trillion from ₦27.25 trillion at the end of December 2025. Customer deposits also grew by 21.3 per cent to ₦22.91 trillion, reflecting an increase in funds held across the group.
Meanwhile, loans and advances to customers rose more moderately by 4.8 per cent to ₦9.39 trillion, indicating a measured expansion in lending relative to deposit growth.
The results highlight FirstHoldCo’s improved profitability and growing contribution from non-interest income, although the decline in net interest income remains an area to watch as the group enters the final quarter of the year.
