FBN Holdings Plc (FirstHoldco) has reported a revenue earlier than tax of N566.537 billion for the 9 months ended 30 September 2025, reflecting a 7.26% decline from the N610.86 billion posted in the identical interval final yr.
Nevertheless, the Group’s core efficiency remained sturdy, with web curiosity revenue after impairments leaping 72.48% year-on-year to N1.21 trillion, pushed by a big growth in curiosity revenue amid a high-interest-rate setting.
Furthermore, for the third quarter alone, the Group recorded a pre-tax revenue of N210.388 billion, a rise of 5.79% from N198.871 billion in Q3 2024.
Key highlights (9M 2025 vs. 9M 2024)
- Curiosity Earnings: N2.29 trillion (Up 40.4% YoY)
- Curiosity Bills: N791.8 billion (Up 4.3% YoY)
- Web Curiosity Earnings: N1.50 trillion (Up 71.67% YoY)
- Impairment Cost: N288.9 billion (Up 68.5% YoY)
- Web Curiosity Earnings After Impairment: N1.21 trillion (Up 72.48% YoY)
- Web charges and fee: N213.7 billion (Up 24.7% YoY)
- Publish-Tax Revenue: N450.87 billion (Down 15.57% YoY)
- Complete Belongings: N26.40 trillion (Up 7.84% YoY)
- Buyer Deposits: N17.89 trillion (Up 4.17%)
- Buyer Loans & Advances: N9.56 trillion (Up 8.99%)
- Shareholders’ Funds: N3.26 trillion (Up 16.55%)
Driving the numbers
Curiosity revenue rose sharply by 40.4% YoY to N2.29 trillion (9M 2025) from N1.63 trillion (9M 2024), pushed by larger yields on interest-earning property and progress in volumes. Particularly:
- Curiosity revenue from loans and advances to clients elevated to N1.459 trillion, up 59.45% from N915 billion within the prior yr.
- Curiosity revenue from funding securities (together with treasury payments and bonds) rose to N720.15 billion, up 33.7% from N538.596 billion.
Curiosity bills, nevertheless, remained comparatively contained at N791.8 billion, rising simply 4.3% regardless of progress in deposits.
This means higher value of funds administration and repricing of liabilities, leading to web curiosity revenue rising by 71.67% YoY to N1.5 trillion.
Impairment expenses surged 68.5% YoY to N288.92 billion, reflecting extra cautious provisioning amid credit score threat issues and potential asset high quality pressures.
- Regardless of this, web curiosity revenue after impairments climbed considerably to N1.21 trillion, highlighting sturdy earnings high quality.
On the non-interest revenue aspect, web price and fee revenue rose 26.86% YoY to N260.477 billion, supported by:
- Digital banking charges: N68.800 billion
- Letters of credit score commissions and costs: N49.173 billion
The Group additionally recorded N71.94 billion in FX features, reversing a lack of N226.73 billion in 9M 2024.
Stability sheet
On the stability sheet, complete property stood at N26.40 trillion, up 7.84% YTD, supported by mortgage progress and growth in money reserves and funding securities.
On the liabilities aspect, customer deposits elevated to N17.89 trillion, whereas borrowings rose to N1.74 trillion from N1.56 trillion. This reveals that the stability sheet was pushed by customer deposits.
Shareholders’ funds improved 16.55% to N3.26 trillion, pushed by retained earnings and capital injection of N146.7 billion in the course of the yr.
Market response
On the day of the consequence announcement, Thursday, October 30, 2025, FirstHoldco closed at N31.70 per share, representing a 0.6% acquire from its earlier shut of N31.50.
Because the begin of the yr, the inventory has superior from N28.05 to N31.70, delivering a 13% year-to-date return.