FirstHoldCo Sustains Strong Growth Momentum with ₦2.64 Trillion Earnings in 9 Months

FirstHoldCo has sustained a strong growth momentum with ₦2.64 trillion earnings in 9 months.

NewsOnline Nigeria reports that FirstHoldCo Plc has continued its impressive growth trajectory in 2025, delivering a strong performance across its core business segments.

The Group reported a 17.1% year-on-year increase in gross earnings to ₦2.64 trillion for the nine months ended September 30, 2025, compared to ₦2.25 trillion in the same period last year underscoring its resilience and operational strength.

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According to its unaudited results, interest income soared 40.4% to ₦2.29 trillion from ₦1.63 trillion in September 2024, reflecting improved asset yields and an expanding loan book. Net interest income also surged 71.7% year-on-year to ₦1.5 trillion, driven by the Group’s solid core banking operations and enhanced profitability.

While non-interest income moderated to ₦296.9 billion due to market factors, FirstHoldCo demonstrated prudent financial management, increasing its impairment provision by 68.6% to ₦288.9 billion to strengthen asset quality and support long-term growth.

Operating income grew 23.2% to ₦1.80 trillion, showcasing the Group’s sustained business momentum. Profit before tax stood at ₦566.5 billion, while profit after tax closed at ₦450.9 billion — reflecting strategic investments in operational expansion and digital infrastructure.

The Group maintained a robust balance sheet, with total assets of ₦26.4 trillion, slightly down from ₦26.5 trillion as of December 2024. Customer deposits rose by 4.2% year-to-date to ₦17.9 trillion, while net loans and advances increased 9% to ₦9.6 trillion, demonstrating continued customer confidence and lending growth.

Key ratios remained solid, with a 19.9% post-tax return on equity and 2.3% return on assets. The Group’s non-performing loan (NPL) ratio improved to 8.5% from 10.2% in December 2024, highlighting enhanced credit quality.

Group Managing Director, Adebowale (Wale) Oyedeji, praised the performance as evidence of FirstHoldCo’s operational resilience and strategic focus.

“FirstHoldCo continues to show strong earnings capacity, driven by disciplined execution and a diversified growth model,” Oyedeji said. “Our results reflect sustainable progress across all business lines and a commitment to creating long-term value for stakeholders.”

He also provided an update on the recapitalisation of FirstBank, confirming that the first phase of its private placement capital raise has been completed and is awaiting final regulatory approval.

“We are on track to meet the new minimum capital requirements by year-end,” Oyedeji noted. “This capital boost will position us for stronger growth and innovation across our subsidiaries.”

Reaffirming the Group’s long-term vision, Oyedeji emphasized that FirstHoldCo remains focused on achieving its 2029 strategic targets, anchored on operational scalability, innovation, and prudent capital management.

“We are confident in our ability to deliver even greater shareholder value as we continue to drive financial inclusion, empower customers, and contribute to Nigeria’s economic development,” he added.