FBN Holdings Plc (FirstHoldco) achieved gross earnings of N942 billion in its first-quarter 2026 financials, compared to the N742.7 billion it recorded for the corresponding period in 2025.
The company’s unaudited results for the first quarter ended March 31, 2026, showed a 26.8 per cent rise in gross earnings in the first quarter of this year compared with the same period for last year.
Also, FirstHoldco recorded a 72 per cent year-on-year Profit Before Tax (PBT) growth in Q1’26 as this surged to N321 billion from N186.47 billion in the corresponding period of 2025, supported by steady interest earning capacity and robust fee income generation.
Similarly, its profit for the year rose by 56.5 per cent to N267.8 billion in the first three months of this year compared with N171.1 billion in the corresponding period of last year.
Commenting on the results, the Group Managing Director, FBN Holdings Plc, Wale Oyedeji, stated: “FirstHoldCo has begun 2026 on a strong footing, delivering a Q1 performance that validates the resilience of our franchise and the disciplined execution of our strategy.
In a market defined by volatility, our results underscore that our business is not only enduring but strengthening—built to perform through cycles and to compound value for shareholders.
“In the first quarter of 2026, gross earnings increased by 26.8 per cent year-on-year to N942.0 billion, while profit before tax rose by 72.2 per cent to N321.1 billion—among the strongest quarterly PBT outcomes in the Nigerian banking industry.
“This strong rebound follows the deliberate actions taken in 2025 to comprehensively de-risk our balance sheet, including adequately provisioning for systemic impaired and non-performing loans.
With these legacy issues addressed decisively, we have strengthened the quality of our earnings and positioned the Group on a much stronger foundation for sustained growth.”
First Holdco Plc. is a diversified financial services group in Nigeria. First Holdco Plc, (formerly FBN Holdings Plc) was incorporated in Nigeria on 14 October 2010, following the business reorganisation of the FirstBank Group into a holding company structure. The Company was listed on the Nigerian Exchange (NGX) (previously Nigerian Stock Exchange, NSE) under the ‘Other Financial services’ sector on 26 November 2012 and currently has paid-up share capital of 44,453,693,133 ordinary shares of 50 kobo each (N22,226,846,567).
The subsidiaries of FirstHoldCo offer a broad range of products and services across Commercial banking in 10 countries (Lagos, Nigeria; London, United Kingdom; Paris, France; Beijing, China; Kinshasa, Democratic Republic of Congo; Accra, Ghana; Banjul, Gambia; Conakry, Guinea; Freetown, Sierra Leone; and Dakar, Senegal), Investment Banking and Asset Management as well as Insurance brokerage. The Group has about 10,872 staff with over 820 business locations.
Commercial Banking comprises First Bank of Nigeria Limited, FirstBank UK Limited, FirstBank DRC Limited bank subsidiaries in West Africa12, a representative office in Beijing and in Paris as well as First Pension Custodian Nigeria Limited. This group provides both individual and corporate clients/customers with financial intermediation services. This business segment includes the group’s local, international, and representative offices with operations in 10 countries offering commercial banking services.
Investment Banking & Asset Management comprises First Asset Management Limited, FirstCap Limited, First Securities Brokers Limited and First Trustees Limited. These are all direct subsidiaries and wholly owned by the holding company. The group creates value by offering investment and risk management products, managing funds, administering assets, and trading securities. It caters to the diverse advisory, funding and investment needs of clients spanning Federal and State Governments, corporates, and high-net-worth individuals (HNIs).
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