FirstHoldCo Plc delivered a strong financial performance in the first half of 2026, reporting an 83.5 percent increase in profit before tax to ₦653.5 billion, up from ₦356.15 billion recorded during the corresponding period in 2025.
The group’s gross earnings climbed to ₦1.93 trillion, representing a 16.7 percent year on year increase from ₦1.65 trillion. Operating income also posted solid growth, rising by 25.8 percent to ₦1.38 trillion, while non interest income reached ₦497.1 billion, according to the company’s financial results filed with the Nigerian Exchange Limited.
The impressive performance reflects the strength of FirstHoldCo’s business, the quality of its earnings and the impact of key strategic decisions implemented over the past year. It also builds on the strong start recorded in the first quarter of 2026, highlighting the company’s transition from recovery and restructuring to a phase of steady growth, improved efficiency and long term value creation.
The financial report also showed notable improvements in operational efficiency. The group’s cost to income ratio dropped to 44.2 percent from 50.5 percent in the same period last year, reflecting disciplined cost management and the company’s ability to convert stronger revenue into higher profitability. Continued investments in technology and operational improvements also contributed to the positive results.
Risk management remained another bright spot for the group during the reporting period. Impairment charges fell by 37.4 percent compared with the previous year, while pre provision operating profit increased by 42.2 percent, supported by stronger asset quality and improved credit risk management.
FirstHoldCo also recovered about ₦91.9 billion from legacy exposures during the first six months of the year, underscoring its continued efforts to reduce non performing loans and strengthen the overall quality of its loan portfolio.
Commenting on the results, Group Managing Director Wale Oyedeji said the performance goes beyond strong financial figures and reflects the resilience of the organisation, the commitment of its workforce and the success of the strategic reforms introduced over the past year.
According to him, the company has deliberately focused on strengthening its balance sheet, rebuilding capital, improving asset quality and increasing operational efficiency. He noted that the latest results confirm those efforts are yielding positive outcomes and have positioned the group on a stronger path toward sustainable long term growth.
