Financial report of FirstHoldCo Plc shows a strong momentum in the first quarter (QI) OF 2026 with gross earnings reaching N942 billion the bank restates its commitment to investing in its people and building future leaders at the industry and national levels
By Edu Abade
FirstHoldCo Plc has announced its unaudited results for the first quarter ended March 31, 2026 showing resilience and strong performance in spite of the much talked about economic hardship nationally and globally.
Commenting on the result, its Group Managing Director (GMD), Wale Oyedeji, said, “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 the fact that our business is not only enduring, but also strengthening- having been built to perform through cycles and to compound value for our shareholders.
“In the first quarter of 2026, gross earnings increased by 26.8 percent year-on-year to N942.0 billion while Profit Before Tax (PBT) rose by 72.2 percent to N321.1 billion, placing the bank 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.”
Oyedeji further explained that the Q1 results reflect the Group’s continued focus on enhancing revenue generation, improving operational efficiency, elevating governance standards and applying rigorous risk management and capital allocation discipline.
“We are pleased by the sustained strength of our core banking franchise, the increased contribution from non-interest income streams and meaningful progress in our digital transformation and financial inclusion programmes-collectively supporting a more resilient and diversified earnings profile.
“Beyond the headline numbers, we remain committed to preserving balance sheet strength, deepening prudent risk management and upholding the highest standards of corporate governance. We also continue to demonstrate industry leadership in resolving legacy delinquent borrower exposures, with notable progress in assets recoveries, particularly from oil and gas obligors.
“In Q1 2026, approximately N19 billion recoveries were recorded, reinforcing our confidence in further recoveries over time. These actions protect asset quality, sustain a strong capital position and reinforce our capacity to fund growth responsibly across both banking and non-banking platforms.
“Looking ahead, this strong start to the year reinforces our confidence in the earnings power of the FirstHoldCo franchise and our ability to generate enduring value for all shareholders. We will sustain momentum by continuing to grow quality earnings, capturing emerging opportunities in Nigeria’s evolving financial services landscape and translating our scale, governance and execution discipline into superior shareholder returns in 2026 and beyond,” he stated.
Meanwhile, FirstBank has restated its commitment to investing in its people and building future leaders at the industry level and by extension the national level.
In a statement shared with finance reporters, the bank said for an average 9-5er, having a job wasn’t enough and that employees now want a career that grows with them, gives them stability, and opens doors to bigger opportunities.
“People everywhere are looking for workplaces that don’t just pay salaries but actually invest in their staff, helping them learn, lead and succeed. That’s exactly what FirstBank is doing. The Bank is building a future where every employee has the opportunity to grow, lead, and thrive. Through its human capital management and development agenda, FirstBank is creating numerous pathways for staff to transform their careers and become tomorrow’s leaders.
Conversion Programme: Turning Opportunities Into Careers: Needless to say that there is no desire for the 9-5er to remain in a temporary role when they can secure a full-time career. With FirstBank’s Conversion Programme, eligible non-core employees who have served for at least one year can transition into permanent positions. This initiative ensures that hardworking staff are rewarded with stability, growth, and the chance to contribute more meaningfully to the Bank’s success.
Leadership Programmes: Grooming the Next Generation: FirstBank has designed three flagship programmes to identify and nurture high-potential talents:
FirstBank Management Associate Programme (FMAP): A 24-month fast-track initiative that grooms future middle managers. Upon completion, participants are promoted to Assistant Manager grade, regardless of their previous grade.
Leadership Acceleration Programme (LAP): Focused on preparing internal middle-management talents for leadership responsibilities, ensuring the Bank’s succession pipeline remains strong.
Senior Management Development Programme (SMDP): A programme for senior managers who are proven leaders in their functions and critical to the Bank’s succession plan.
These programmes are not just training—they are career accelerators, designed to put staff on the fast lane to leadership.
FirstAcademy: Learning With Global Standards: Backing these initiatives is FirstAcademy, FirstBank’s corporate university, accredited by the Chartered Institute of Bankers of Nigeria (CIBN).
Staff also benefit from partnerships with institutions like Rome Business School and Association of Chartered Certified Accountants (ACCA), gaining access to world-class training—often at discounted rates
A Workplace That Values People: FirstBank’s parent company, First HoldCo PLC, was named second in the Best Workplaces in Financial Services in Nigeria. The Bank remains firmly committed to responsible employment practices, ensuring that all colleagues are treated with dignity, fairness, and respect.
The Future Is Human: With these initiatives, FirstBank is showing that its greatest investment is its people. By empowering staff through various growth opportunities, the Bank is not just building a workforce, it is cultivating leaders who will shape the future of banking in Nigeria and beyond.
