FirstHoldco Plc has delivered a pretax profit of ₦169.6 billion in Q2 2025, representing a 4.58% year-on-year decline.
However, the bank’s half-year pretax profit reached ₦356.1 billion, demonstrating solid results despite challenges in operating margins.
Interest income surged 61.92% YoY to ₦812.1 billion in Q2 2025, driven by robust loan growth and investment income.
Half‑year interest income totaled ₦1.4 trillion, with ₦910.3 billion from loans and advances, ₦445.7 billion from investment securities, and ₦81.2 billion from loans to banks.
Interest expenses climbed 27.65%, rising to ₦272.4 billion, yet the surge in income supported net interest income of ₦539.6 billion, an impressive 87.32% YoY leap.
After deducting impairments, net interest income remained strong at ₦391.4 billion, up 65.16% year-on-year.
FirstHoldco’s net fee and commission income reached ₦74.5 billion in Q2, up 27.54% from ₦58.4 billion in Q2 2024.
Foreign exchange losses dropped dramatically from ₦66.4 billion to just ₦6.9 billion, significantly boosting overall profitability.
Despite revenue gains, personnel costs of ₦102.9 billion and other operating expenses totaling ₦185.5 billion weighed on operating margins.
Operating profit edged down to ₦169.2 billion, compared to ₦177.7 billion in the prior year’s Q2, contributing to the modest pretax decline.
FirstHoldco’s balance sheet remained sturdy, with total assets increasing 2.54% YoY to ₦27.1 trillion. Retained earnings climbed 23.17%, reaching ₦1.3 trillion, showing a healthy fiscal foundation and strong capital buffers.
