FIRST HOLDCO PLC – TAKING THE BULL BY THE HORN WITH A RECORD IMPAIRMENT CHARGE; GROWS GROSS EARNINGS TO N3.4 TRILLION FOR THE UNAUDITED FULL YEAR ENDED DECEMBER 31, 2025.

First HoldCo Plc has introduced its unaudited monetary outcomes for the 12 months ended 31 December 2025, reflecting a 12 months of deliberate strategic actions aimed toward strengthening its steadiness sheet, bettering asset high quality, and positioning the enterprise for extra resilient and sustainable progress amidst profitable capital elevate actions.

As said within the unaudited Group monetary assertion, FirstHoldCo recorded a 4.8% year-on-year (y-o-y) enhance in its Gross earnings to N3.4 trillion, supported by a 36.3% y-o-y progress in web curiosity revenue of N1.9 trillion on the again of enhanced earnings yield and margins of 17.11% and 11.0%, respectively. Equally, web charges and commissions improved by 18.7% y-o-y to N290.7 billion. These are clear indications of the energy of the income producing capability of the core enterprise which continues to be strong. Earnings for the 12 months had been, nevertheless, decrease than the prior 12 months, primarily attributable to larger impairment fees within the industrial banking phase. That is in step with a deliberate strategic determination to speed up steadiness sheet clean-up and undertake extra aggressive provisioning requirements. Administration views this as a prudent step that enhances transparency, strengthens investor confidence, and aligns totally with evolving regulatory expectations.

Moreover, elevated regulatory prices affected profitability. These fees, whereas weighing on the outcomes, underscore the Group’s compliance with Nigeria’s monetary system stability framework and its dedication to making sure systemic confidence. Regardless of these pressures, underlying efficiency of the Group stays sturdy.

Deposit liabilities grew by 10.0% y-o-y, pushed by sustained deposit mobilisation and continued funding in digital banking platforms. This progress displays sturdy buyer confidence and deepening engagement throughout key segments. The deposit combine additionally confirmed a deliberate discount in overseas foreign money deposits, ensuing from the compensation of costly funding and the affect of naira appreciation. This shift helps improved funding effectivity and reduces overseas trade threat.

Gross loans and advances declined marginally, reflecting a disciplined method to credit score progress, strengthened threat administration, mortgage repayments, write-offs, and the interpretation affect of a stronger naira on overseas foreign money services. The Group intensified its dedication to making sure a high-quality, cleaner asset base, aiming to optimise the portfolio and improve future earnings potential.

Moreover, efficiency in earnings was impacted by a decline in non-interest revenue, primarily attributable to decrease truthful worth beneficial properties on monetary devices following the naira appreciation in 2025. Nevertheless, this was partially offset by stronger overseas trade (FX) buying and selling revenue and lowered FX revaluation losses. Web charges and fee revenue additionally grew, supported by larger digital banking charges, letters of credit score commissions, custodian charges, and account upkeep revenue, reflecting the continued success of the Group’s digital-innovation technique.

Whereas impairment fees elevated following the top of regulatory forbearance, administration has intensified restoration initiatives and bolstered credit score oversight. Excluding impairment and truthful worth beneficial properties, pre-provision working revenue grew by 23.9% y-o-y to N973.3 billion demonstrating strong efficiency of the core enterprise.

Other than the industrial banking impairments, efficiency throughout the remainder of the Group remained resilient, supported by regular buyer exercise and disciplined execution.

Wanting forward, the Group will proceed to prioritise disciplined execution of its strategic targets, with emphasises on enhancing effectivity and profitability, persevering with to construct on the Group’s digital and information capabilities, whereas sustaining a sturdy steadiness sheet to help elevated worth creation and returns for shareholders. Alongside this, the Group will pursue selective progress initiatives, together with new income streams, further enterprise verticals, and deeper participation in focused African markets, in step with our technique and threat urge for food.

Additional particulars and insights are to be supplied when the audited full-year outcomes are printed and through the subsequent investor and analyst earnings name.