First HoldCo Plc (NGX:FIRSTHOLDCO)

First HoldCo Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	2,420,420	960,328	551,937	369,047	384,798
Interest Income on Investments	9,864	5,742	3,166	6,520	3,983
Total Interest Income	2,430,284	966,070	555,103	375,567	388,781
Interest Paid on Deposits	1,028,678	411,415	188,688	140,805	133,183
Net Interest Income	1,401,606	554,655	366,415	234,762	255,598
Net Interest Income Growth (YoY)	152.70%	51.37%	56.08%	-8.15%	-9.99%
Gain (Loss) on Sale of Assets	53	-221	1,249	-79	199
Gain (Loss) on Sale of Investments	-40,293	75,192	18,991	60,260	63,152
Other Non-Interest Income	877,234	519,910	213,636	297,870	118,603
Total Non-Interest Income	836,994	594,881	233,876	358,051	181,954
Non-Interest Income Growth (YoY)	40.70%	154.36%	-34.68%	96.78%	36.28%
Revenues Before Loan Losses	2,238,600	1,149,536	600,291	592,813	437,552
Provision for Loan Losses	410,810	227,418	68,619	91,711	61,830
Revenue	1,827,790	922,118	531,672	501,102	375,722
Revenue Growth (YoY)	98.22%	73.44%	6.10%	33.37%	2.55%
Salaries and Employee Benefits	320,228	179,090	117,376	128,772	100,584
Occupancy Expenses	60,794	29,480	20,982	20,022	18,634
Amortization of Goodwill & Intangibles	-	13,869	7,068	8,258	7,238
Selling, General & Administrative	206,491	103,166	55,094	45,768	37,346
Other Non-Interest Expense	378,303	238,458	173,425	131,362	103,071
Total Non-Interest Expense	965,399	563,243	373,770	334,440	266,391
EBT Excluding Unusual Items	862,391	358,875	157,902	166,662	109,331
Legal Settlements	-	-	-	-	-25,628
Pretax Income	862,391	358,875	157,902	166,662	83,703
Income Tax Expense	125,657	48,393	21,591	15,515	8,111
Earnings From Continuing Operations	736,734	310,482	136,311	151,147	75,592
Earnings From Discontinued Operations	2,123	-112	-138	-68	14,138
Minority Interest in Earnings	-6,444	-2,167	-1,770	-1,370	-1,744
Net Income	732,413	308,203	134,403	149,709	87,986
Net Income to Common	732,413	308,203	134,403	149,709	87,986
Net Income Growth	137.64%	129.31%	-10.22%	70.15%	25.84%
Basic Shares Outstanding	35,895	35,895	35,895	35,895	35,895
Diluted Shares Outstanding	35,895	35,895	35,895	35,895	35,895
EPS (Basic)	20.40	8.59	3.74	4.17	2.45
EPS (Diluted)	20.40	8.59	3.74	4.17	2.45
EPS Growth	137.64%	129.31%	-10.22%	70.23%	25.78%
Dividend Per Share	-	0.400	0.500	0.350	0.450
Dividend Growth	-	-20.00%	42.86%	-22.22%	18.42%
Effective Tax Rate	14.57%	13.48%	13.67%	9.31%	9.69%

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