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FirstHoldco Plc, which owns one of the largest lenders in Nigeria (First Bank Plc), saw core net interest income after impairments and net fee income surge by 61 percent to N858.12 billion in the First Half of 2025.
Net interest income is the profit banks earn from charging interest rates to borrowers than they pay out to depositors and account holders.
While the central bank has put a brake on hiking the monetary policy rate (MPR), the interest rates are still high enough for banks to make money.
The Apex Bank announced the retention of the Monetary Policy Rate (MPR) at 27.5%, following the conclusion of its 301st Monetary Policy Committee (MPC) meeting held on Tuesday, July 22, 2025.
“The decision was premised on the need to sustain disinflation and sufficiently contain price pressure,” said CBN governor, Olayemi Cardoso.
Net Interest Income (after impairment charge for losses) came in at N719.43 billion, up 70.5 percent compared to N421.94 billion in H1, 2024.
Net fee and commission income increased by 25.13 percent to N138.69 billion in the period under review from N110.83 billion the previous year.
FirstHoldCo reported an operating profit of N355.97 billion in the six months’ period to June 2025 which was a bit impacted by loss on financial instruments at fair value of N53.6 billion compared to a N432.2 billion gain in the 2024 six months’ period.
FirstHoldCo Plc is the leading institution in electronic payment transactions with a 20 percent market share of commercial banking volume.
To deepen financial inclusion by bringing banking services to the rural dwellers, the lender is empowering financial inclusion in Nigeria with a large agent banking network of over 280,000 nationwide.
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