FirstHoldco Gains 23% on Trading Volume, Pre-Q1 Positioning
FirstHoldco gained 23% as investors stepped up buying action in the shares of a financial services company ahead of the first quarter of 2026 earnings release.
The non-operating holding company of First Bank Limited saw its share price rise to N64 on Friday, as 31.463 million units valued at N1.984 billion were traded on the local bourse.
The positive price movement was driven by heavy trading volume, led by buy-side actors, in anticipation of strong earnings performance following recapitalisation.
Market value of First Holdco Plc.’s 44.453 billion outstanding shares edged higher by 23% week on week to N2.845 trillion.
Equity analysts anticipate improved bottom-line performance following a successful recapitalisation. In its recently released 2025 full-year results, the Group took a significant impairment charge of ₦748.1 billion to address legacy non-performing exposures.
Analysts at Afrinvest Securities said this represents a major step toward resolving historical concerns about asset quality. Hence, First Holdco reported that its pretax profit declined sharply by 70.7% year on year to ₦229.1 billion, while the group’s net income fell by 93.3% to ₦45.0 billion.
The significant provisioning and balance sheet reset in 2025 is expected to strengthen core banking fundamentals, realign asset quality metrics toward regulatory thresholds, and enhance profitability potential relative to peers over the medium term.
Over the short-to-medium term, FirstHoldCo’s strategic priority is to defend and strengthen its leadership position within Nigeria’s financial services landscape, Afrinvest Securities Limited said in a report.
This strategy is centred on accelerating deposit mobilisation, deepening customer engagement, and driving sustainable value creation through enhanced technology adoption and seamless digital delivery of products and services.
In parallel, the Group is prioritising balance sheet resilience through tighter internal prudential standards, stronger risk governance, and an elevated corporate governance framework.
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