First HoldCo Plc (NGX:FIRSTHOLDCO)

First HoldCo Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	2,887,143	2,397,428	936,682	551,937	369,047	384,798
Interest Income on Investments	12,831	10,657	5,742	3,166	6,520	3,983
Total Interest Income	2,899,974	2,408,085	942,424	555,103	375,567	388,781
Interest Paid on Deposits	1,095,940	996,119	390,394	188,688	140,805	133,183
Net Interest Income	1,804,034	1,411,966	552,030	366,415	234,762	255,598
Net Interest Income Growth (YoY)	116.00%	155.78%	50.66%	56.08%	-8.15%	-9.99%
Gain (Loss) on Sale of Assets	170	-194	7	1,249	-79	199
Gain (Loss) on Sale of Investments	-51,439	-47,062	74,166	18,991	60,260	63,152
Other Non-Interest Income	547,179	791,676	511,100	213,636	297,870	118,603
Total Non-Interest Income	495,910	744,420	585,273	233,876	358,051	181,954
Non-Interest Income Growth (YoY)	-34.97%	27.19%	150.25%	-34.68%	96.78%	36.28%
Revenues Before Loan Losses	2,299,944	2,156,386	1,137,303	600,291	592,813	437,552
Provision for Loan Losses	518,705	426,294	224,948	68,619	91,711	61,830
Revenue	1,781,239	1,730,092	912,355	531,672	501,102	375,722
Revenue Growth (YoY)	33.27%	89.63%	71.60%	6.10%	33.37%	2.55%
Salaries and Employee Benefits	344,255	308,472	175,901	117,376	128,772	100,584
Occupancy Expenses	49,349	44,384	29,053	20,982	20,022	18,634
Amortization of Goodwill & Intangibles	17,598	17,598	13,825	7,068	8,258	7,238
Selling, General & Administrative	253,606	210,694	103,065	55,094	45,768	37,346
Other Non-Interest Expense	376,488	353,012	235,183	173,425	131,362	103,071
Total Non-Interest Expense	1,040,613	933,625	556,207	373,770	334,440	266,391
EBT Excluding Unusual Items	740,626	796,467	356,148	157,902	166,662	109,331
Legal Settlements	-	-	-	-	-	-25,628
Pretax Income	740,626	796,467	356,148	157,902	166,662	83,703
Income Tax Expense	153,631	132,977	47,715	21,591	15,515	8,111
Earnings From Continuing Operations	586,995	663,490	308,433	136,311	151,147	75,592
Earnings From Discontinued Operations	14,482	13,515	1,937	-138	-68	14,138
Minority Interest in Earnings	-7,091	-6,206	-2,167	-1,770	-1,370	-1,744
Net Income	594,386	670,799	308,203	134,403	149,709	87,986
Net Income to Common	594,386	670,799	308,203	134,403	149,709	87,986
Net Income Growth	22.63%	117.65%	129.31%	-10.22%	70.15%	25.84%
Basic Shares Outstanding	38,788	35,895	35,895	35,895	35,895	35,895
Diluted Shares Outstanding	38,788	35,895	35,895	35,895	35,895	35,895
EPS (Basic)	15.32	18.69	8.59	3.74	4.17	2.45
EPS (Diluted)	15.32	18.69	8.59	3.74	4.17	2.45
EPS Growth	13.67%	117.65%	129.31%	-10.22%	70.23%	25.78%
Dividend Per Share	-	0.600	0.400	0.500	0.350	0.450
Dividend Growth	-	50.00%	-20.00%	42.86%	-22.22%	18.42%
Effective Tax Rate	20.74%	16.70%	13.40%	13.67%	9.31%	9.69%

Updated Jan 30, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.