Kayode Tokede  

 Access Holdings Plc, yesterday announced a N616 billion profit before tax for the third quarter (Q3) ended September 30, 2025, which was a 10.4 per cent year-on-year (YoY) increase over the N558 billion declared in the third quarter (Q3) ended September 30, 2024.

The group from the profit & loss figures recorded improved performance for Q3 2025, with gross earnings rising by 14.1 per cent YoY to N3.9trillion from N3.4 trillion as at Q3 2024.

The Company Secretary, Access Holdings, Sunday Ekwochi, in a statement stated that, “This performance was driven by sustained growth in both interest and fees and commission, reflecting the strength of the Group’s diversified earnings base and improved performance from core operations across its banking and non-banking businesses.

“Maintaining the same momentum, gross earnings rose by 56.2per cent quarter-on-quarter from N2.5 trillion as at Half Year (H1) 2025. Interest income rose by 21.1 per cent year-on-year to N2.9 trillion in Q3 2025, compared to N2.4 trillion in Q3 2024.

“Net interest income also increased by 48.9per cent to N1.3 trillion from N845 billion in the same period. This performance was driven by loan book expansion, reflecting our disciplined risk management approach and a strategic focus towards higher-yielding, quality assets to strengthen portfolio returns. 

“On a quarter-on-quarter basis, interest income and net interest income grew by 42.1per cent and 27.8per cent, respectively, from N2.0 trillion and N984 billion in H1 2025. 

“There was 44.3per cent growth in net fee and commission to N476 billion in Q3 2025 from N330 billion in Q3 2024, reflecting higher transaction volumes and increased customer activity across digital and payment channels across both periods.  On a quarter-on-quarter basis, net fee and commission income also increased by 100.8per cent from N237billion in H1 2025. 

“While total non-interest income declined marginally by 8.1 per cent to N872 billion in Q3 2025 from N984 trillion in Q3 2024, the Group’s growth momentum from core operations continues to support overall earnings trajectory.”

He noted that operating income rose 18.8 per cent to N2.13 trillion in Q3 2025 from N1.8trillion in Q3 2024, while impairment on loans increased by 141.5 per cent to N350 billion as of Q3 2025 from N145 billion in Q3 2024.

“Operating expenses increased marginally by 6.7 per cent in Q3 2025 to N1.2 trillion from N1.1trillion in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6 per cent in Q3 2025 from 60.8per cent as at Q3 2024, as revenue growth outpaced operating expenses. We expect cost-to-income ratio to stay moderated from ongoing efficiency initiatives, cost optimisation measures, and stronger revenue across the Group.”

“Compared to H1 2025 performance, profitability demonstrated resilience, as profit before tax (PBT) increased by 91.9 per cent from N321billion in H1 2025 YTD to N616 billion in Q3 2025. Profit after tax (PAT) also showed improvement in the period with a 107.9 per cent increase to N447 billion in Q3 2025 from N215 billion as at H1 2025 YTD.

“The Group’s balance sheet increased with total assets growing by 25.8per cent to N52.0 trillion in Q3 2025 from N41.5 trillion in FY 2024. The growth in balance sheet was supported by customer deposits, which grew by 47 per cent to N33.1 trillion in Q3 2025 from N22.5 trillion in FY 2024. Loans and advances increased by 19.7 per cent   to N15.6trillion in Q3 2025 from N13.0 trillion in Q3 2024. The Group is positioned to unlock revenue synergies, enhance cross-border collaboration, and drive sustainable earnings growth.

“The Group’s strong performance was largely driven by its non-Nigerian subsidiaries, which together contributed over 50 per cent of consolidated results.

“These subsidiaries continued to deliver strong growth across key metrics, reflecting the benefits of diversification and deepening franchise strength across our African markets. In comparison, the Nigerian operations experienced underperformance during the period, attributable to changing macroeconomic conditions, inflationary pressures, and continued regulatory adjustments. Despite these headwinds, the Group’s diversified structure continued to provide stability and resilience.”

Looking ahead, He added that, “We will continue to strengthen our franchise across all our markets and businesses, deepen operational resilience, and create sustainable value for all our stakeholders.

“We appreciate the continued trust and support of our shareholders, customers, and employees. Together, we are shaping a resilient and inclusive franchise that is anchored in prudent portfolio management, guided by innovation, and committed to sustainable growth.” 

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