First HoldCo Plc, the Nigerian parent of FirstBank, lifted nine-month consolidated profit 65.1% to ₦744.45 billion, as non-interest revenue helped cushion a 16% decline in net interest income.
First HoldCo’s unaudited accounts for the nine months ended Sept. 30, 2026, showed pretax profit of ₦911.24 billion, up 60.8% from ₦566.54 billion a year earlier. Of consolidated profit for the period, ₦737.93 billion was attributable to owners of the parent and ₦6.53 billion to non-controlling interests. The company pointed to stronger fees and other income, as well as lower operating costs, as contributors to the result. The board approved the statements Oct. 21; the results release is dated Oct. 23.
Gross earnings rose 8.8% to ₦2.87 trillion, but interest income slipped 8.7% to ₦2.09 trillion. Interest expense climbed to ₦833.00 billion from ₦791.80 billion, leaving net interest income 16% lower at ₦1.26 trillion. After impairment charges, net interest income was ₦1.05 trillion, down from ₦1.21 trillion a year earlier.
Non-interest income expanded 143.5% to ₦722.9 billion, while net fee and commission income increased 48.1% to ₦316.43 billion. Fair-value movements on financial instruments added ₦104.59 billion after a ₦72.78 billion loss in the comparable 2025 period. Credit-loss charges eased 28.3% to ₦207.10 billion.
Third-quarter consolidated profit was ₦218.32 billion, compared with ₦161.10 billion in the third quarter of 2025. Earnings per share for the nine-month period rose to ₦16.45 from ₦10.65.
At Sept. 30, total assets reached ₦32.20 trillion, 18.1% above Dec. 31, 2025. Customer deposits grew 21.3% to ₦22.91 trillion over that span, while loans and advances increased 4.8% to ₦9.39 trillion. The balance-sheet comparison is with Dec. 31, 2025.
The company’s release put its nonperforming loan ratio at 10.4%, against 8.5% for the first nine months of 2025. Group Managing Director Wale Oyedeji said the measure had come down from 13.9% at H1 2026, when First HoldCo reported first-half results. The 9M and H1 comparisons cover different reporting periods.
