Investors traded N2.10 billion worth of First HoldCo Plc shares on Monday as the market responded to the financial services group’s nine-month results showing a 65 percent increase in profit to N744.45 billion.
A total of 14.37 million First HoldCo shares valued at N2.101 billion changed hands on the Nigerian Exchange on October 26, placing the stock among the most actively traded equities by value during the session.
The heightened activity followed the release of First HoldCo’s financial statements for the nine months ended September 30, 2026, which showed profit after tax rising 65.1 percent to N744.45 billion from N450.87 billion in the corresponding period of 2025.
Profit before tax increased 60.8 percent to N911.24 billion, while total assets expanded 18.1 percent to N32.20 trillion.
Customer deposits also increased 21.3 percent to N22.91 trillion, strengthening the group’s balance sheet during the period.
However, the results showed pressure within some underlying earnings lines despite the sharp increase in headline profit.
Net interest income declined 16 percent to N1.26 trillion, while recoveries, fee income, gains on financial instruments and lower impairment charges contributed to the improvement in profitability.
First HoldCo also recorded N228.81 billion in other comprehensive losses, reducing total comprehensive income for the period to N515.64 billion.
The combination of stronger headline profitability, expanding assets and deposits, alongside weaker net interest income and substantial other comprehensive losses, provided investors with several components of the results to assess during Monday’s trading.
First HoldCo’s N2.10 billion turnover came as banking stocks accounted for a substantial portion of activity across the market.
Zenith Bank recorded 25.92 million shares worth N3.11 billion, UBA traded 23.99 million shares valued at N979.61 million, Access Holdings recorded 18.01 million shares worth N487.83 million, while Fidelity Bank traded 17.54 million shares valued at N396.98 million.
Together with First HoldCo, the five banking stocks accounted for approximately 99.83 million shares, or 30.3 percent of the total 329.53 million shares traded on the NGX during the session.
Their combined transaction value stood at approximately N7.07 billion, representing 27.8 percent of the market’s N25.45 billion turnover.
The broader equities market also rallied strongly on Monday, with the NGX All-Share Index rising 1.65 percent to 251,290.54 points and market capitalisation increasing by approximately N2.64 trillion to N163.161 trillion.
For First HoldCo, Monday’s N2.10 billion turnover reflected heightened investor activity immediately following the release of results that showed substantially stronger profitability but also revealed pressure within some components of the group’s earnings.