FirstHoldco Soars 16.51% in 2-Day, Investors Bet on Earnings
FirstHoldco Plc’s market value fired up in the stock market, gaining about 17% in two days as investors positioned in the financial services company.
Trading data from the Nigerian Exchange (NGX) showed that the non-operating company of First Bank of Nigeria (FBN) climbed to N79 per share on Tuesday. The positive price movement followed significant trading volume on the local bourse.
First Holdco climbed on 29.909 million units valued at N2.363 billion, executed in the local bourse by dip buyers value hunters at BroadStreet on Tuesday. The significant price surge lifted the market value of First Holdco Plc.’s 44.453 billion outstanding shares to N3.511 trillion.
Some analysts estimate that First Holdco is trading below its emerging-market peers, and the banking group is expected to deliver earnings growth after a profit slump in 2025.
At the current market price, First Holdco is approaching its 52-week high on the local bourse. The financial stock had hit N81.9 before sell pressures plunged its 7-day low of N61.
Reflecting a good start to the year, First Holdco Plc reported a 56.5% year on year growth in Profit After Tax (PAT) to N267.8 billion in the first quarter of 2026, according to the unaudited financial statement released.
The improved profitability was supported by stronger contributions from both Net Interest Income (NII), up by +20.1% year on year, and Non-Interest Revenue (NIR), which climbed by 110.7%.
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