FirstHoldCo’s half year earnings hit N1.7 trn
First HoldCo Plc. yesterday revealed its unaudited results for the first half of the year ended June 30, 2025, showing gross earnings increasing by 18 per cent to N1.7 trillion as against N1.4 trillion in 2024. Interest income also increased by 51.7% year on year to N1.437.4 billion as against N947.7 billion in 2024. Other […]
First HoldCo Plc. yesterday revealed its unaudited results for the first half of the year ended June 30, 2025, showing gross earnings increasing by 18 per cent to N1.7 trillion as against N1.4 trillion in 2024.
Interest income also increased by 51.7% year on year to N1.437.4 billion as against N947.7 billion in 2024.
Other highlights of the results indicated that net Interest income was up 75.7% year on-year to N904.8 billion (Jun 2024: N514.9 billion).
Also, Total assets grew 2.5% y-t-d to N27.2 trillion (Dec 2024: N26.5 trillion) while Customer deposits were up 4.2% to N17.9 trillion (Dec 2024: N17.2 trillion).
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Customer loans and advances (Net) rose by 1.1% to N8.9 trillion (Dec 2024: N8.8 trillion).
Group Managing Director, Wale Oyedeji, stated that the FirstHoldCo has demonstrated tenacity amidst “a challenging macroeconomic backdrop.”
He said, “In the first half of 2025, gross earnings grew to N1.7 trillion largely on the back of a strong 75.7% y-o-y growth in net interest income to N904.8 billion. This underscores our ability to capitalise on market opportunities while maintaining a strong focus on profitability.
“Profit before tax closed at N356.1 billion primarily due to normalization of foreign exchange gains recorded in the previous year and an increase in impairment charges as we further strengthen the balance sheet to cover unresolved forborne loans.
“Looking ahead, our immediate priorities are strengthening our earnings profile, completing the recapitalisation of FirstBank well before the March 2026 deadline and achieving full resolution of forbearance loans by financial year end 2025. Our strategic focus remains accelerating digital transformation, enhancing the customer journey, driving sustainable long-term growth through partnerships, increasing operational excellence and maintaining disciplined risk asset governance and oversight.
“We are committed to our strategic goals and are confident in our ability to deliver optimal value to our shareholders.”