First HoldCo Plc almost doubled its profit after tax in the first half of 2026 as improved asset quality, lower credit losses, and a sharp rise in trading gains offset softer interest income in a high-rate environment.
The financial services group reported a profit after tax of N526.13 billion for the six months ended June 30, 2026, representing an 81.6 percent increase from N289.77 billion recorded in the corresponding period of 2025. Profit attributable to shareholders surged to N522.66 billion from N286.40 billion a year earlier.
The stronger bottom line came despite a 2.84 percent decline in net interest income, as the lender benefited from lower impairment charges, robust fee income, higher investment gains, and a significant jump in other operating income.
Profit before tax rose by 83.5 percent to N653.54 billion, up from N356.15 billion in the first half of last year, while operating profit increased by 83.2 percent
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