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- Cuts bad-loan charges by 73.5%, grows deposits to N36.9trn
Access Holdings Plc grew its profit before tax (PBT) by 8.3 per cent to N667.4 billion in the nine months ended September 30, 2026, from N616.2 billion recorded in the corresponding period of 2025, as a sharp reduction in bad-loan charges boosted earnings.
The financial services group also recorded a 5.9 per cent increase in profit after tax to N474.2 billion, compared with N447.5 billion in the same period last year.
A major driver of the performance was the 73.5 per cent reduction in impairment charges, which fell from N350 billion to N92.9 billion.
The decline in charges for loans that may not be recovered helped push net interest income after impairment up by 32.1 per cent to about N1.2 trillion, from N908 billion recorded a year earlier.
Interest income rose by 6.9 per cent to N3.1 trillion, while interest expenses increased by 10.1 per cent to N1.8 trillion. Consequently, net interest income grew by 2.7 per cent to N1.3 trillion.
The group also recorded improved earnings from fees and commissions, reflecting increased income from banking transactions and other services.
Fee and commission income rose by 8.4 per cent to N650.9 billion, while expenses on the same activities declined by 6.9 per cent to N115.9 billion.
This lifted net fee and commission income by 12.4 per cent to N534.9 billion.
Overall, core operating income increased by 5.4 per cent to N1.83 trillion, from N1.73 trillion in the corresponding period of 2025.
However, rising operating costs and a decline in other income continued to weigh on the group’s performance.
Operating expenses increased by 11.8 per cent to N1.3 trillion, while other operating income fell by 40.8 per cent to N234.5 billion.
Consequently, total operating income declined by 3.2 per cent to N2.06 trillion, from N2.13 trillion.
Despite these pressures, the group said its Scale-to-Value strategy would focus on improving efficiency, strengthening earnings, managing risks and making better use of its existing business operations to deliver sustainable returns to shareholders.
Its balance sheet also remained strong, with total assets rising by 1.7 per cent to N52.6 trillion as of September 30, 2026, from N51.7 trillion at the end of December 2025.
Customer deposits increased by 6.6 per cent to N36.9 trillion, while loans and advances grew by 7.4 per cent to N14.3 trillion. Shareholders’ funds remained broadly stable at N4.5 trillion.
The group’s earnings also reflected its growing international presence, with operations outside Nigeria accounting for 82.2 per cent of the Banking Group’s profit before tax.
International banking subsidiaries contributed 43.7 per cent, while operations in the rest of Africa accounted for 38.5 per cent. Nigeria contributed the remaining 17.8 per cent.
The group said it would leverage its international network to deepen customer relationships and grow business in trade finance, payments, transaction banking and treasury services.
On regulatory compliance, Access Holdings said it had made progress towards resolving its position under Section 19(8)(c) of the Banks and Other Financial Institutions Act (BOFIA), which relates to the limit on banks’ investments in subsidiaries.
The group said capital recalls from six banking subsidiaries were being undertaken to bring Access Bank’s investment-in-subsidiaries ratio within the statutory 10 per cent limit.
According to management, the capital recall exercise had been completed in one subsidiary, while shareholder approvals had been secured in four of the remaining five subsidiaries.
Regulatory approvals and other processes were being pursued to complete the exercise within the timeline set by the Central Bank of Nigeria (CBN).
The resolution of the issue is important to shareholders as it has affected the group’s capacity to pay dividends.
However, any future dividend payment would depend on the group’s financial position, available distributable reserves, capital requirements and regulatory approvals.
Access Holdings said its Scale-to-Value strategy was designed to move beyond expanding its size to making its existing businesses more productive and profitable.
The strategy focuses on stronger management accountability, improved risk controls, disciplined capital allocation, lower operating costs and more reliable sources of income.
The group said these priorities would help strengthen its financial position and create a more sustainable basis for delivering returns to shareholders.
