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Access Holdings Plc reported pre-tax profit of N667.36 billion for the nine months ended September 2026, up 8.29 per cent from N616.25 billion a year earlier.
According to its results filed with the Nigerian Exchange Limited (NGX) on Monday, its third-quarter pre-tax profit reached N253.23 billion, up 78.43 per cent from N141.92 billion in Q2 2026, but down 14.35 per cent from N295.68 billion in Q3 2025. The financial services group disclosed the results on November 2, 2026, alongside its half-year financial statements, following a delay in the publication of its H1 results pending regulatory approvals from the Central Bank of Nigeria.
Despite the improvement in nine-month profitability, the group’s third-quarter performance presented a mixed picture, with earnings recovering significantly from the preceding quarter but remaining below the corresponding period of last year.
Q3 pre-tax profit rose 78.43 per cent quarter-on-quarter to N253.23 billion, from N141.92 billion in Q2 2026. However, it declined 14.35 per cent compared with the N295.68 billion reported in Q3 2025.
Profit after tax followed a similar pattern, increasing sharply by 313.41 per cent quarter-on-quarter to N207.45 billion from N50.18 billion, although it remained 10.44 per cent below the N231.63 billion recorded a year earlier.
A major contributor to the group’s nine-month earnings improvement was the substantial reduction in impairment charges, which fell 73.45 per cent to N92.91 billion from N349.99 billion in the corresponding period of 2025. The reduction translated into a N257.08 billion decline in impairment expenses, providing significant support for profitability.
Revenue performance was also positive, although rising funding costs limited the benefits of higher interest income.
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Interest income increased 6.91 per cent to N3.10 trillion from N2.90 trillion, while interest expense grew faster by 10.09 per cent to N1.81 trillion. Consequently, net interest income expanded by just 2.74 per cent to N1.29 trillion from N1.26 trillion. Interest earned on customer loans increased to N1.54 trillion from N1.38 trillion. However, interest paid on customer deposits climbed to N1.25 trillion from N805.62 billion, highlighting the pressure from higher funding costs.
Non-interest income provided additional support. Fee and commission income grew 8.40 per cent to N650.87 billion from N600.40 billion, while related expenses declined to N115.93 billion from N124.49 billion. This lifted net fee income by 12.40 per cent to N534.94 billion. However, rising operating expenses remained a concern. Personnel expenses increased 20.51 per cent to N432.12 billion, while other operating expenses rose 6.03 per cent to N757.26 billion, reflecting continued cost pressures.
The group’s basic earnings per share increased marginally by 0.25 per cent to N8.02 from N8.00, indicating that the growth in headline profitability translated into limited improvement in per-share earnings.
On the balance sheet, total assets stood at N52.60 trillion, representing a 0.78 per cent increase from N52.20 trillion a year earlier. Debt securities and interest-bearing borrowings declined 37.44 per cent to N2.05 trillion, while cash and cash equivalents fell 27.54 per cent to N6.53 trillion.
Overall, Access Holdings’ nine-month performance reflects improved profitability, largely supported by lower impairment charges and stronger fee income.
However, rising funding and operating costs, alongside marginal EPS growth, suggest that sustaining earnings momentum will depend increasingly on stronger core income generation and improved cost efficiency.
