Access Holdings Plc has announced its unaudited Consolidated and Separate Interim Financial Statements for the period ended 30 September 2025, reflecting a solid financial position, significant asset growth, and sustained profitability.
The Group recorded a profit after tax of ₦231.63 billion for the third quarter of 2025, marking a 31% year-on-year increase from ₦176.42 billion in the corresponding period of 2024. This strong performance was underpinned by robust non-interest income, prudent cost management, and balance sheet efficiency, despite macroeconomic headwinds.
Strong Balance Sheet Expansion
Access Holdings reported total assets of ₦52.20 trillion, representing a 25.7% increase from ₦41.50 trillion as of 31 December 2024. This growth was driven by increased customer deposits, strategic investment in securities, and a steady rise in loans and advances.
- Customer deposits surged to ₦33.10 trillion, up 47% from ₦22.52 trillion in December 2024.
- Investment securities grew by ₦3.9 trillion to ₦15.25 trillion, reflecting effective yield optimization.
- Loans and advances to customers increased to ₦12.89 trillion from ₦11.49 trillion, supported by improved credit performance.
- Cash and balances with banks rose significantly to ₦8.73 trillion, from ₦5.22 trillion, highlighting strong liquidity management.
On the liabilities side, total liabilities increased to ₦48.22 trillion (December 2024: ₦37.74 trillion), primarily due to growth in customer deposits and other financial obligations.
The Group’s total equity improved to ₦3.98 trillion from ₦3.76 trillion, reflecting stronger retained earnings and improved capital buffers.
At the Company (standalone) level, total assets stood at ₦1.33 trillion, compared to ₦1.22 trillion as at December 2024, driven by increased restricted deposits and investment balances.
Profitability and Core Income Growth
For the quarter ended 30 September 2025, Access Holdings recorded a profit before tax (PBT) of ₦295.68 billion, representing a 41% increase from ₦209.26 billion in Q3 2024.
After a tax expense of ₦64.04 billion, profit after tax (PAT) stood at ₦231.63 billion, underscoring continued profitability across the Group’s operations.
- Interest income totaled ₦859.89 billion, driven by higher yields on loans and investment securities.
- Interest expense amounted to ₦586.58 billion, resulting in net interest income of ₦273.31 billion, compared to ₦331.45 billion in the same quarter last year.
- Impairment charges rose to ₦119.92 billion, from ₦22.21 billion in Q3 2024, reflecting conservative provisioning in line with credit risk management practices.
Non-Interest Income Drives Results
The Group’s diversified revenue base continued to deliver value, with non-interest income contributing significantly to overall earnings.
- Fee and commission income surged by 87.9% to ₦282.88 billion, from ₦150.57 billion in Q3 2024, supported by transaction fees, digital banking revenues, and trade finance.
- Fair value and foreign exchange gains rose to ₦209.46 billion, compared to ₦141.47 billion in the same period last year, driven by market revaluation and exchange rate dynamics.
- Other operating income increased sharply to ₦49.86 billion, from ₦4.83 billion in the prior year, buoyed by investment returns and recoveries.
Cost Control and Operational Efficiency
Access Holdings maintained strong cost discipline despite inflationary pressures.
- Personnel expenses were contained at ₦129.36 billion, up marginally from ₦123.33 billion in Q3 2024.
- Other operating expenses declined to ₦200.90 billion, from ₦221.60 billion, reflecting improved cost management and efficiency gains from digital operations.
- Depreciation and amortization stood at ₦25.05 billion, consistent with the prior year’s level.
Comprehensive Income and Shareholder Value
Access Holdings reported a total comprehensive income of ₦184.32 billion for Q3 2025, a strong turnaround from a ₦4.42 billion loss recorded in the same period last year.
This performance was supported by fair value gains of ₦329.83 billion on debt securities and effective portfolio management, partly offset by an unrealised foreign currency translation loss of ₦106.84 billion and a ₦270.82 billion loss on derecognised FVOCI securities.
Profit attributable to owners of the bank was ₦228.62 billion, while non-controlling interests accounted for ₦3.02 billion.
Earnings per share (EPS) increased to ₦4.28 (basic and diluted), compared to ₦3.18 in Q3 2024, reinforcing the Group’s ability to deliver value to shareholders.
Standalone Company Performance
On a standalone basis, Access Holdings Plc recorded a profit before tax of ₦18.58 billion, compared to a ₦444 million loss in Q3 2024.
After taxes of ₦224 million, profit after tax was ₦18.36 billion, signifying a complete turnaround from the prior year.
The holding company’s earnings were driven by foreign exchange gains of ₦18.94 billion and other income of ₦19.33 billion, with total operating expenses managed efficiently at ₦4.52 billion.
Capital Adequacy and Shareholders’ Equity
Access Holdings’ capital position remains robust, with total equity attributable to shareholders rising to ₦3.73 trillion. This includes:
- Share capital and premium: ₦594.90 billion
- Additional Tier 1 Capital: ₦206.36 billion
- Retained earnings: ₦1.52 trillion
- Other equity reserves: ₦1.40 trillion
