For the nine-month period ending in September 2026, Access Holdings Plc generated a pre-tax profit of N667.36bn, marking an 8.29 per cent growth compared to the N616.25bn reported during the same timeframe in 2025, buoyed by reduced impairment costs alongside higher interest and fee revenues.
The financial services group also recorded a strong sequential recovery in the third quarter, with pre-tax profit rising by 78.43 per cent to N253.23bn from N141.92bn in the second quarter.
However, the third-quarter performance remained below the corresponding period of last year, when the group posted N295.68bn in pre-tax profit, indicating that the latest recovery has yet to fully restore its previous earnings level.
The group released its half-year and nine-month financial results on November 2, 2026, following delays in the publication of its half-year results pending regulatory approvals from the Central Bank of Nigeria.
Profit after tax for the nine-month period increased by 5.95 per cent to N474.17bn from N447.55bn in 2025, while basic earnings per share edged up marginally to N8.02 from N8.00.
A major factor supporting the group’s profitability was the significant reduction in impairment charges, which declined by 73.45 per cent to N92.91bn from N349.99bn recorded a year earlier.
The reduction translated into savings of approximately N257.08bn, helping to cushion the impact of rising funding and operating costs.
Interest income increased by 6.91 per cent to N3.10tn from N2.90tn, while net interest income grew by a slower 2.74 per cent to N1.29tn from N1.26tn.
The relatively modest growth in net interest income reflected pressure from rising funding costs. Interest expenses increased by 10.09 per cent to N1.81tn, outpacing the growth in interest income.
Interest earned on customer loans rose to N1.54tn from N1.38tn. However, interest paid on customer deposits climbed more sharply to N1.25tn from N805.62bn, limiting the benefit of higher lending income.
Fee and commission income provided additional support, rising by 8.40 per cent to N650.87bn from N600.40bn. Related expenses declined to N115.93bn from N124.49bn, pushing net fee income up by 12.40 per cent to N534.94bn.
On a quarterly basis, Access Holdings’ profit after tax surged by 313.41 per cent to N207.45bn in Q3 from N50.18bn in Q2. The stronger growth in after-tax earnings was partly supported by a reduction in tax expenses, which fell to N45.78bn from N91.74bn.
Despite the recovery, some income lines weakened during the quarter. Fee and commission income declined by 23.72 per cent, while other operating income fell to N11.61bn from N49.86bn.
Personnel expenses also increased by 20.51 per cent to N432.12bn, while other operating expenses rose by 6.03 per cent to N757.26bn.
The group’s balance sheet showed total assets of N52.60tn, compared with N52.20tn a year earlier. Cash and cash equivalents, however, declined by 27.54 per cent to N6.53tn from N9.01tn.
Overall, the results show that while Access Holdings maintained earnings growth over the nine-month period, the sharp quarterly rebound was supported partly by lower impairment and tax expenses.
Rising funding and operating costs, alongside weaker year-on-year third-quarter earnings, remain important pressures on its profitability.
What You Should Know
Access Holdings has released its financial reports showing strong profit growth over the first nine months of the year, driven heavily by a sharp drop in money set aside for bad loans and increased earnings from customer transactions and lending.
- Positive Impact: The strong financial health shows stability in one of Nigeria’s major financial institutions, which reassures investors and helps maintain overall confidence in the nation’s banking sector.
- Potential Concerns: Despite overall growth, rising funding costs and higher operating expenses indicate that the bank is facing increased pressure on its daily operational spending.
