First HoldCo Plc Reports ₦118.7 Billion Profit for Q2 2025, Driven by Strong Interest Income

First HoldCo Plc has reported a profit of ₦118.7 billion for Q2 2025, down from ₦157.2 billion in the same period of 2024.

The Group grew interest income by 61.9 percent to ₦812.1 billion in Q2 2025 from ₦501.5 billion in Q2 2024. Net interest income stood at ₦539.6 billion on improved lending activities and income from investments.

After accounting for impairment charges of ₦148.1 billion, net interest income after impairment rose to ₦391.5 billion, against ₦237.0 billion in the same period of 2024.

Fee and commission income grew to ₦90.9 billion, up from ₦67.9 billion in Q2 2024, while net fee and commission income settled at ₦74.6 billion. Dividend income increased to ₦10.0 billion from ₦7.7 billion a year earlier on strong investment portfolio performance.

Operating profit closed at ₦169.3 billion, slightly lower than ₦177.8 billion posted in Q2 2024, largely because of higher personnel and operating expenses.

Profit before tax stood at ₦169.7 billion compared to ₦177.8 billion a year ago.

Following a tax expense of ₦53.3 billion, profit from continuing operations was ₦116.4 billion while discontinued operations contributed ₦2.3 billion, bringing total profit for the period to ₦118.7 billion.

Earnings per share attributable to owners of the parent was ₦6.84, compared to ₦10.05 in Q2 2024, reflecting the impact of higher operating costs despite strong revenue growth.

The Group’s performance highlights continued resilience in Nigeria’s financial sector, with increased revenues from both lending and non-interest income streams, though margins remain pressured by elevated costs.