FirstHoldCo Plc has reported a strong financial performance for the first half of 2026, with profit before tax (PBT) rising by 83.5 per cent to ₦653.5 billion, compared with ₦356.15 billion recorded during the same period in 2025. The impressive result reflects continued growth in earnings, stronger operational efficiency, and improved risk management.
The group also posted gross earnings of ₦1.93 trillion, representing a 16.7 per cent increase from ₦1.65 trillion achieved a year earlier. At the same time, operating income climbed by 25.8 per cent to ₦1.38 trillion, while non-interest income rose to ₦497.1 billion, according to its financial results released on the Nigerian Exchange Limited (NGX).
The FirstHoldCo results highlight the impact of strategic reforms implemented over the past year, as the group continues its transition from recovery to sustainable growth. The company also improved its cost-to-income ratio to 44.2 per cent, down from 50.5 per cent in the first half of 2025, reflecting tighter cost control and greater operational efficiency.
The financial statement further showed that impairment charges fell by 37.4 per cent year-on-year, while pre-provision operating profit increased by 42.2 per cent. The group also recovered approximately ₦91.9 billion from legacy exposures during the period, demonstrating stronger risk management and continued efforts to reduce non-performing loans.
Commenting on the performance, Group Managing Director Wale Oyedeji said, “Our H1 2026 performance reflects far more than strong numbers, it demonstrates the resilience of our franchise, the dedication of our people and the success of the strategic actions we undertook to reposition the Group for the future. Over the past year, we have worked deliberately to strengthen our balance sheet, restore capital, improve asset quality, and enhance operating efficiency. The results show that those efforts are delivering meaningful outcomes and creating a stronger foundation for long-term growth.”
The strong FirstHoldCo performance builds on the momentum recorded in the first quarter of 2026 and reinforces the group’s focus on delivering sustainable value for shareholders through disciplined growth and sound financial management.
What do you think this strong financial performance means for FirstHoldCo’s future growth and investor confidence?
