First Holdco Rises by 12%, Reaches N2.4trn
Non-operating company of First Bank of Nigeria, First Holdco Plc’s stock market value increased by more than 12% last week, reflecting investors’ improved sentiment as the first quarter of the 2026 earnings season approaches.
The elephant-branded financial services holdings company’s earnings came under intense pressure following significant impairment charges against the 2025 profit.
The year-on-year surge in impairment charges and bad debt write-offs dragged profit down by 93% and stoked sell pressure on the local bourse.
Recent trading activity suggests investors’ sentiment is healing, as the market recorded significant volume in First Holdco. The bargain hunting lifted the financial services company’s market value to N2.4 trillion, tracking slightly below its 52-week high.
According to data from the Nigerian Exchange, First Holdco’s share price traded amid significant volume throughout last week. The share price reached its week-high of N54 on Friday, as 10.879 million units of First Holdco, valued at N576.494 million, were traded.
In terms of market capitalisation, First Holdco ranked third in the Tier-1 bank league, tracking behind Zenith Bank and GTCO Plc. #First Holdco Rises by 12%, Reaches N2.4trn Oando Drops Hints on Tranche 2 Shares Distribution
