FirstHoldCo Posts N1.93tn Gross Earnings and N653.5bn Pre-Tax Profit in H1 2026

FirstHoldCo Plc reported gross earnings of N1.93 trillion for the half-year ended 30 June 2026, up 16.7 per cent year on year, with profit before tax rising 83.5 per cent to N653.5 billion.

The gap between those two growth rates is the story. Operating income grew 25.8 per cent to N1.38 trillion while the cost-to-income ratio fell to 44.2 per cent from 50.5 per cent, and impairment charges declined 37.4 per cent. Pre-provision operating profit rose 42.2 per cent, and asset recoveries of roughly N91.9 billion added further support. Profit grew far faster than revenue because costs and credit losses moved the other way.

Non-interest income contributed N497.1 billion and the net interest margin stood at 9.5 per cent. FirstBank closed the period with a capital adequacy ratio of 16.7 per cent and a liquidity ratio of 52.2 per cent. The investment banking and asset management arm delivered N46 billion in gross earnings and N27.4 billion in profit before tax.

Group Chairman Femi Otedola said the results affirmed earlier board decisions to strengthen the institution, while Group Managing Director Wale Oyedeji pointed to the resilience of the franchise.

Source: THISDAY