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First HoldCo Plc has crossed the N5 trillion market capitalisation mark during intraday trading on the Nigerian Exchange (NGX), becoming the country’s most valuable banking stock as investors continued to respond positively to its strong half-year financial performance.
The financial services group’s shares traded between N112 and N113 during Wednesday’s midday session, extending gains from its previous closing price of N105 per share on Tuesday.
The rally lifted the company’s market capitalisation above N5 trillion, placing it ahead of other listed banking stocks on the NGX in terms of market value.
The surge in investor demand follows the release of the group’s half-year (H1) 2026 financial results, which showed robust earnings growth across key performance indicators.
According to the results, gross earnings rose to N1.93 trillion, while profit before tax increased by 83.5 per cent to N653.5 billion, reflecting strong operational performance despite the challenging macroeconomic environment.
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The impressive earnings have boosted investor confidence in the stock, extending a rally that has seen FirstHoldCo outperform many of its peers on the Nigerian bourse.
Market analysts said the strong financial performance, combined with growing investor confidence in the banking sector, has continued to drive demand for the company’s shares.
The latest milestone comes just days after FirstHoldCo overtook some of Nigeria’s leading banking groups in market valuation, reinforcing its position as one of the strongest performers on the NGX this year.
Analysts expect investors to continue monitoring the company’s performance in the second half of the year, particularly as banks navigate the ongoing recapitalisation exercise and a high-interest-rate environment.
