C&I Leasing Plc announced a pretax profit of N532.84 million for the first quarter of 2026, marking a 9.2% increase from the N487.9 million recorded in the same period of 2025. The company filed its unaudited financial statements on the Nigerian Exchange.

The improved earnings were primarily fueled by robust growth in lease income, which remains the company's largest revenue contributor. Lease rental income grew by 9.47% year-on-year to N11.15 billion, accounting for over 87% of the gross earnings.

Gross earnings for the quarter stood at N12.78 billion, a 12.79% rise compared to Q1 2025. Net lease income also saw a significant increase, growing by 12.58% YoY to N6.32 billion. Additionally, net outsourcing income rose by 36.30% YoY to N470.77 million, and net tracking income increased by 27.44% YoY to N41.71 million.

Operating profit before operating expenses reached N4.18 billion, up 10.27% from N3.79 billion in Q1 2025. However, finance costs increased by 26.76% YoY to N3.73 billion, impacting overall profitability. Operating expenses, including depreciation, personnel, and other costs, grew by 9.7% YoY to N3.64 billion.

Post-tax profit for the period was N500.41 million, a 15.49% increase year-on-year. The company's total assets expanded by 10.77% to N150.15 billion in Q1 2026, up from N135.55 billion at the end of December 2025. Operating lease assets, valued at N69.67 billion, constituted nearly half of the total assets.

Total shareholders' funds also saw an increase, growing by 8.84% to N49.59 billion.