First HoldCo Balance Sheet

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	2,835,154	4,261,269	5,705,676	2,682,586	1,862,451	1,454,461
Investment Securities	6,904,469	7,198,508	4,840,702	2,638,363	1,920,708	1,766,789
Trading Asset Securities	1,166,159	1,046,622	409,759	744,583	274,038	342,188
Total Investments	8,070,628	8,245,130	5,250,461	3,382,946	2,194,746	2,108,977
Gross Loans	9,758,987	9,228,797	9,262,953	6,633,833	3,929,209	3,004,177
Allowance for Loan Losses	-320,124	-262,476	-495,065	-274,539	-140,148	-122,261
Net Loans	9,438,863	8,966,321	8,767,888	6,359,294	3,789,061	2,881,916
Property, Plant & Equipment	525,428	541,194	222,164	161,677	125,167	115,987
Goodwill	7,560	9,566	8,314	5,919	3,771	4,270
Other Intangible Assets	30,789	26,752	31,824	27,638	12,088	14,748
Other Receivables	507,074	449,982	982,098	472,885	272,849	135,680
Restricted Cash	5,005,191	4,143,625	3,744,031	2,108,471	1,558,263	1,348,086
Other Current Assets	244,971	332,916	920,354	1,052,432	506,125	696,684
Long-Term Deferred Tax Assets	34,152	39,916	53,706	55,895	30,909	28,710
Other Real Estate Owned & Foreclosed	-	74,473	74,750	72,616	60,456	61,165
Other Long-Term Assets	179,114	140,777	745,865	542,215	150,312	81,689
Total Assets	26,878,924	27,250,935	26,524,218	16,937,684	10,577,710	8,932,373
Accounts Payable	180,443	305,408	311,926	351,788	127,403	69,675
Accrued Expenses	132,285	-	-	-	-	-
Interest Bearing Deposits	15,083,014	15,192,243	15,174,789	9,454,676	5,810,103	5,019,562
Non-Interest Bearing Deposits	5,828,325	5,709,769	4,918,333	3,011,852	2,369,237	1,928,032
Total Deposits	20,911,339	20,902,012	20,093,122	12,466,528	8,179,340	6,947,594
Current Portion of Long-Term Debt	13,693	1,509,574	1,771,406	792,250	257,935	126,366
Current Portion of Leases	-	2,638	2,734	1,398	2,038	3,070
Current Income Taxes Payable	175,294	118,278	122,563	52,662	27,901	17,741
Other Current Liabilities	548,775	523,401	1,052,457	691,646	416,564	459,181
Long-Term Debt	1,367,170	496,396	36,391	602,047	455,889	298,586
Long-Term Leases	14,900	18,582	17,397	12,981	6,259	7,283
Pension & Post-Retirement Benefits	11,554	11,490	8,640	8,036	5,699	5,392
Long-Term Deferred Tax Liabilities	9,191	13,462	11,645	5,524	868	366
Other Long-Term Liabilities	42,713	48,329	300,603	205,803	102,073	117,263
Total Liabilities	23,407,357	23,949,570	23,728,884	15,190,663	9,581,969	8,052,517
Common Stock	22,227	22,227	17,948	17,948	17,948	17,948
Additional Paid-In Capital	458,389	458,389	233,392	233,392	233,392	233,392
Retained Earnings	1,828,315	1,561,643	1,477,146	827,479	580,562	456,565
Comprehensive Income & Other	1,101,011	1,198,605	1,014,021	639,759	151,727	161,546
Total Common Equity	3,409,942	3,240,864	2,742,507	1,718,578	983,629	869,451
Minority Interest	61,625	60,501	52,827	28,443	12,112	10,405
Shareholders' Equity	3,471,567	3,301,365	2,795,334	1,747,021	995,741	879,856
Total Liabilities & Equity	26,878,924	27,250,935	26,524,218	16,937,684	10,577,710	8,932,373
Total Debt	1,395,763	2,027,190	1,827,928	1,408,676	722,121	435,305
Net Cash (Debt)	3,360,038	4,494,612	4,309,229	2,234,842	1,689,966	1,469,722
Net Cash Growth	-14.40%	4.30%	92.82%	32.24%	14.99%	-18.01%
Net Cash Per Share	76.32	107.31	119.39	62.26	47.08	40.95
Filing Date Shares Outstanding	44,454	44,454	35,895	35,895	35,895	35,895
Total Common Shares Outstanding	44,454	44,454	35,895	35,895	35,895	35,895
Book Value Per Share	76.71	72.90	76.40	47.88	27.40	24.22
Tangible Book Value	3,371,593	3,204,546	2,702,369	1,685,021	967,770	850,433
Tangible Book Value Per Share	75.85	72.09	75.28	46.94	26.96	23.69

Source: S&P Global Market Intelligence. Banks template. Financial Sources.