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Strong interest income and lower provisions lifted First HoldCo’s nine-month profit, boosting dividend expectations and bank-sector sentiment.

The banking group’s 60.84 per cent profit growth drew fresh buying, narrowing the holding-company discount and lifting sentiment on the NGX.

First HoldCo shares rose 10% after pre-tax profit climbed to N911.24 billion, prompting investors to reprice the banking group’s earnings outlook.

Veritas Kapital Assurance posted a N3.16 billion pre-tax profit for the year under review, with profit after tax rising 86 per cent to N3.046 billion as shareholders approved the financial statements at the annual general meeting.

Five leading Nigerian financial institutions reported a combined pre-tax profit of about N2.29 trillion in the first half of 2026, cementing banking's dominance of corporate earnings.

The lender reported N637.6 billion in profit before tax for the six months to June, while after-tax earnings fell and the board proposed a N1.50-per-share interim payout.

The group paired a 16.2 percent profit increase with faster deposit growth and a lower cost-to-income ratio in its 2025 accounts.