By Chima Nwokoji
FirstHoldCo Plc has sustained its progress momentum throughout core enterprise segments, reporting a 17.1 % year-on-year improve in gross earnings to ₦2.64 trillion for the 9 months ended September 30, 2025, in comparison with ₦2.25 trillion within the corresponding interval of 2024.
According to the unaudited outcomes launched by the Group, curiosity revenue rose sharply by 40.4 per cent to ₦2.29 trillion from ₦1.63 trillion in September 2024, reflecting improved asset yields and mortgage e-book enlargement. Net curiosity revenue additionally climbed 71.7 per cent year-on-year to ₦1.5 trillion, buoyed by stronger core banking operations.
However, non-interest revenue declined 49.2 % to ₦296.9 billion, whereas impairment fees for credit score losses surged 68.6 % to ₦288.9 billion, reflecting prudent danger provisioning in a risky working setting.
Operating revenue rose 23.2 % to ₦1.80 trillion, although revenue earlier than tax slipped 7.3 % to ₦566.5 billion, down from ₦610.9 billion a yr earlier. Profit after tax additionally fell by 15.5 % to ₦450.9 billion, largely as a consequence of diminished honest worth features and better working prices, which jumped 39.3 % to ₦942.7 billion.
Despite the revenue decline, the Group maintained steadiness sheet stability, with whole belongings at ₦26.4 trillion, marginally decrease than ₦26.5 trillion as of December 2024. Customer deposits rose 4.2 % year-to-date to ₦17.9 trillion, whereas web loans and advances elevated by 9 % to ₦9.6 trillion.
Key efficiency ratios present that FirstHoldCo maintained a post-tax return on common fairness of 19.9 per cent and a post-tax return on belongings of two.3 %. The Group’s cost-to-income ratio stood at 52.4 per cent, in contrast with 46.4 % a yr earlier, whereas the non-performing mortgage (NPL) ratio improved to eight.5 per cent from 10.2 % in December 2024.
Group Managing Director, Adebowale (Wale) Oyedeji, described the outcomes as a mirrored image of the Group’s underlying resilience and dedication to sustainable progress.
“FirstHoldCo has once again demonstrated solid earnings capability,” Oyedeji mentioned. “Our interest and operating income grew strongly by 40.4 percent and 23.2 percent, respectively, supported by a 26.9 percent rise in fees and commission income. The decline in profit before tax was due to the normalisation of fair value gains and balance sheet strengthening initiatives.”
He famous that the Group’s strategic danger administration measures have been already yielding outcomes, as seen within the improved asset high quality.
On the recapitalisation of FirstBank, Oyedeji disclosed that the primary section of its personal placement capital elevate had been efficiently executed and is awaiting remaining regulatory approvals.
“We expect to conclude this phase in November 2025, ensuring FirstBank’s full compliance with the new minimum capital requirements by year-end,” he mentioned. “Subsequent capital raising rounds will further enhance our financial solutions and support value-accretive initiatives.”
Oyedeji reaffirmed the Group’s dedication to attaining its 2029 {financial} targets, noting that FirstHoldCo stays well-positioned to ship stronger shareholder worth by means of operational scalability and prudent capital administration.
