WorldStage– Financial services powerhouse First HoldCo Plc has released its unaudited consolidated financial statements for the period ended September 30, 2026, on the Nigerian Exchange (NGX), showcasing a stellar performance characterized by aggressive top-line growth, disciplined risk execution, and an expanding balance sheet.
For equity analysts and institutional investors monitoring the banking sector, the nine-month report underscores the group’s systemic resilience and robust capital-restoration strategy under the leadership of Group Chairman, Olufemi Otedola, and Group Managing Director, Adebowale Oyedeji.
Key Financial Highlights for Q3 2026
Profit Before Tax (PBT): Rose significantly by 61% year-on-year to N911.24 billion, up from N566.54 billion reported in the corresponding period of 2025.
Profit After Tax (PAT): Accelerated to N744.45 billion, representing a massive surge compared to the N450.87 billion recorded in September 2025.
Gross Earnings & Interest Income: Driven by core commercial banking operations through First Bank of Nigeria Limited and diversified income streams, the group posted an interest income of N2.09 trillion alongside net fee and commission income of N316.43 billion.
Total Assets Expansion: The balance sheet crossed a major milestone, expanding by 18.1% to close at N32.20 trillion compared to N27.25 trillion at the end of December 2025.
Customer Deposits: Rose by 21.3% to N22.91 trillion (vs. N18.88 trillion in FY 2025), reflecting deepening customer confidence and expanding deposit mobilization.
Credit Portfolio: Loans and advances to customers ticked upward to N9.39 trillion, confirming active financial intermediation across key economic growth sectors.
Executive Commentary & Strategic Direction
Commenting on the financial scorecard, Group Managing Director Adebowale Oyedeji noted that the group entered the second half of 2026 with clear momentum, stronger fundamental metrics, and a sharper trajectory toward sustainable value creation.
“Our performance reflects a capital-restored institution with deep market relevance, a diversified and increasingly efficient revenue base, improving asset quality, and disciplined risk execution,” Oyedeji stated. “We are confident in our ability to deliver superior, sustainable returns and deepen shareholder value.”
Asset Quality and Regulatory Compliance
First HoldCo’s credit risk management continues to show stabilization. The group’s impairment charges for credit losses dropped to N207.10 billion for the nine-month period, down from N288.92 billion in September 2025, signaling healthier loan book performance.
On the regulatory front, the company maintained strict adherence to the Nigerian Exchange Limited (NGX) governance standards. The filing confirms a healthy free float status of 50.29% valued at approximately N3.66 trillion, comfortably satisfying the Premium Board listing requirements.
Investor Outlook
With basic and diluted earnings per share (EPS) climbing to N16.45 (from 10.65 in 2025) and a market share price closing strongly at N159.90 at the end of the reporting period, First HoldCo remains a primary bellwether stock on the NGX. Analysts expect the group to maintain its earnings momentum into the final quarter, bolstered by resilient non-interest revenue lines and optimized operational efficiency.
