Nigeria, Feb. 1 -- First Holdco Plc recorded a 75.5 per cent surge in impaired credit provision in 2025, compared to 2024, according to its unaudited financial statements issued on Friday, causing the financial services group to put aside N748.1 billion to cover problem loans within the period.

Provision for delinquent credit by the parent company of Nigeria's oldest lender, First Bank, stood at N426.3 billion in the preceding year

The bulk of the impairment charge was reported in the fourth quarter of the year, when the group set aside N459.2 billion. That was 7.7 per cent higher than the entire provision for the 2024 financial year.

The figure compares to the N254.9 billion recorded in the last quarter of 2024, representing a year-on...