You are currently viewing First HoldCo shares gain 10% to push market value past N6.5 trillion

First HoldCo shares gain 10% to push market value past N6.5 trillion

First HoldCo shares rose 10% to N144.10 after nine-month profit after tax climbed 65.1% to N744.45bn, lifting market value to about N6.55trn.

Shares in First HoldCo Plc rose by 10 per cent on Friday to close at N144.10, lifting the group’s market value to about N6.55 trillion after it reported a 65.1 per cent rise in nine-month profit after tax.

The stock gained N13.10 from its Thursday close of N131 on the Nigerian Exchange (NGX), the maximum daily gain allowed. On the 45.48 billion shares in issue, the group’s market capitalisation rose from about N5.96 trillion to N6.55 trillion, an increase of about N596 billion.

First HoldCo shares rally on nine-month results

FIRST

For the nine months ended 30 September 2026, the group reported profit after tax of N744.45 billion. That compares with N450.87 billion in the same period of 2025. Profit before tax rose 60.8 per cent to N911.24 billion from N566.54 billion, while gross earnings increased 8.8 per cent to N2.87 trillion. Earnings per share rose to N16.45 from N10.65. The results are unaudited.

In the third quarter alone, profit after tax rose 35.5 per cent to N218.32 billion, and profit before tax rose 22.5 per cent to N257.71 billion.

The growth came from fees and trading gains. Net fee and commission income rose 48.1 per cent to N316.4 billion. The group booked a net gain of N104.59 billion on financial instruments, compared with a loss of N72.78 billion a year earlier. Lower impairment charges also helped. Net interest income fell over the period.

In July, the board announced a policy to pay at least 60 per cent of profit after tax as annual dividends.

The rally followed a weak patch. First HoldCo shares closed at N131 on Thursday, 22 October, after a 4.59 per cent fall on Wednesday. The stock has still more than doubled since early July, when it traded at N57.20.

Other major banking stocks traded lower on Friday. Zenith Bank fell 0.49 per cent to N120.90, and Access Holdings fell 0.93 per cent to N26.50. United Bank for Africa (UBA) fell 2.63 per cent to N40.70, while Guaranty Trust Holding Company (GTCO) closed flat at N122.

Tags:

Fattyma Ibrahim

Fattyma Zahra Ibrahim is a writer, and storyteller who believes in the power of words to inform, connect, and make people think. With a love for culture, history, and stories about society, she brings curiosity and authenticity to everything she writes. Her work reflects a belief that good storytelling should not only tell a story, but also make people pause, question, and see things from a different perspective.

Leave a Reply