First HoldCo Sustains Growth Momentum, On Track for N1 trillion Profit in 2026
With a profit before tax (PBT) of N911.24 billion ($685 million) year to third quarter of 2026, First HoldCo Plc is on track for a N1 trillion in 2026.
In a report filed at the Nigerian Exchange Group Friday, First HoldCo recorded a growth of about 61% in its PBT which was N566.5 billion in the same period in 2026. Consequently, Profit After Tax (PAT) rose over 65% from N450.9 billion to N566.54 billion.
A one trillion profit before tax in 2026 will launch First HoldCo into the league of GT Ban, Zenith and Access Holdings who are the only three Nigerian banks who have crossed the threshold.
Declining interest rates in the market showed up in the interest income by the bank which declined by about 9% from N2.29 trillion to N2.09 trillion.
Banks have been recording income pressure following declining rates as a result of falling inflation and the monetary policy stance of the Central Bank of Nigeria (CBN). The CBN in September reduced by 350 basis points in what the apex bank described as a reset policy measure.
