FirstHoldCo posts strong Q1 recovery as profit jumps 72% to N321bn
By allcitynews.ng FIRSTHoldCo Plc has reported a strong rebound in profitability for the first quarter of 2026, posting a 72.2 per cent increase in profit before tax to N321.1 billion, amid sustained revenue growth and improved earnings quality. The Group, in its unaudited financial results for the quarter ended March 31, 2026, announced that gross earnings rose by 26.8 per cent year-on-year to N942 billion from N742.7 billion recorded in the corresponding period of 2025. The profit after tax also increased significantly by 56.5 per cent to N267.8 billion, compared to N171.1 billion in Q1 2025, underscoring what the company described as the resilience of its banking franchise and disciplined execution of its growth strategy. Interest income grew by 12.7 per cent to N704.5 billion, while net interest income rose by 20.1 per cent to N438.8 billion. The Group also recorded a sharp rise in non-interest income, which surged by 110.7 per cent to N219.2 billion, driven b...