First HoldCo Plc
NNSENG:FIRSTHOLDCO131.00
NGN
0.00
(0.00%)
First HoldCo Plc
NSENG:FIRSTHOLDCO
(Nigerian Stock Exchange)
Recent
price
131.00
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- First HoldCo Plc is a diversified financial services holding company headquartered in Lagos, Nigeria, providing comprehensive commercial banking, capital markets, investment banking, asset management, and trusteeship services. Tracing its origins back to the establishment of First Bank of Nigeria in 1894 and operating under a non-operating financial holding company structure since 2012, the group serves retail consumers, small and medium-sized enterprises, large corporate institutions, high-net-worth individuals, and public sector entities across Sub-Saharan Africa and international financial centers. The company conducts its operations through primary business segments including Commercial Banking, Merchant Banking and Asset Management, and Other Financial Services. Its flagship banking subsidiary, First Bank of Nigeria Limited, offers commercial and retail banking products and services comprising savings, current, and term deposit accounts; personal loans, residential mortgages, auto financing, overdraft facilities, and credit cards; corporate lending, project and structured finance, syndicated loans, working capital facilities, and equipment leasing; trade finance solutions, letters of credit, bills for collection, and export financing; foreign exchange trading, treasury management, and cash management services; digital and electronic payment solutions, including the FirstMobile application, internet banking, and USSD transaction platforms; and branchless agency banking services through the Firstmonie agent network and Firstmonie wallet, providing deposit mobilization, cash withdrawal, fund transfer, and bill payment services. Through its non-bank financial subsidiaries, including FBNQuest Capital, FBNQuest Asset Management, and FBNQuest Trustees, the group delivers equity and fixed-income brokerage; mergers and acquisitions advisory; debt and equity capital market issuance underwriting; wealth and portfolio management; institutional asset management; private equity investment; and corporate trust, estate planning, and custody administration. Geographically, First HoldCo Plc maintains an extensive branch network across Nigeria, with international banking operations in the United Kingdom via FBNBank UK with a branch in France, as well as banking subsidiaries in the Democratic Republic of the Congo, Ghana, The Gambia, Guinea, Sierra Leone, and Senegal, supported by representative offices in Beijing, China, and Abu Dhabi, United Arab Emirates. In recent strategic developments, the company officially rebranded from FBN Holdings Plc to First HoldCo Plc following shareholder and regulatory approvals to establish a cohesive brand identity across its corporate structure. In response to the Central Bank of Nigeria recapitalization directives, the group completed a 150 billion naira rights issue to bolster the capital base of First Bank of Nigeria Limited, meeting the 500 billion naira minimum regulatory requirement for international commercial banks, and subsequently secured shareholder authorization for an additional capital raise of up to 253.1 billion naira. In portfolio realignment, First HoldCo finalized the divestment of its merchant banking unit, FBNQuest Merchant Bank, while continuing to expand its core commercial banking, capital markets, and asset management businesses.