FirstHoldCo Gross Earnings Hit ₦3.4tn but Profit Falls 79% on Rising Impairments

FirstHoldCo Plc posted a 6.9 per cent rise in gross earnings to ₦3.44 trillion in the year to December 2025, even as profit after tax plunged 79 per cent to ₦139.5 billion. Interest income jumped 24.9 per cent to ₦2.99 trillion and net interest income was up 36.8 per cent to ₦1.92 trillion. The steep profit decline was linked to a 93.8 per cent surge in impairment charges, which hit ₦826.3 billion, alongside higher operating costs from inflation and foreign exchange pressures. The Group MD said the firm undertook de-risking measures and strategic balance sheet adjustments to boost transparency and resilience. FirstHoldCo has secured ₦128.7 billion of a ₦350 billion capital raise to meet new regulatory requirements. Total assets grew 2.7 per cent to ₦27.3 trillion, and customer deposits rose 10 per cent to ₦18.9 trillion. The non-performing loan ratio increased to 12 per cent, while coverage climbed to 98.7 per cent, showing stronger provisioning and balance sheet health.

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