Access Holdings PLC (“the Group” or “the Company”) today announced its nine-month ended September 30, 2025 (“Q3 2025”) results, recording gross earnings of ₦3.9trillion, which represented a rise by 14.1% year-on-year over ₦3.4trillion as at Q3 2024.
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 56.2% quarter-on-quarter
from ₦2.5trillion as at Half Year (H1) 2025.
Interest income rose by 21.1% year-on-year to ₦2.9 trillion in Q3 2025, compared to
₦2.4 trillion in Q3 2024. Net interest income also increased by 48.9% to ₦1.3 trillion
from ₦845 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 42.1%
and 27.8%, respectively, from ₦2.0 trillion and ₦984 billion in H1 2025.
There was 44.3% growth in net fee and commission to N476billion in Q3 2025 from
N330billion 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
100.8% from N237billion in H1 2025.
While total non-interest income declined marginally by 8.1% to ₦872 billion in Q3 2025 from ₦984trillion in Q3 2024, the Group’s growth momentum from core operations continues to support overall earnings trajectory.
Operating income rose 18.8% to ₦2.13 trillion in Q3 2025 from ₦1.8trillion in Q3 2024.
Impairment on loans increased by 141.5% to N350billion as of Q3 2025 from
N145billion in Q3 2024.
Operating expenses increased marginally by 6.7% in Q3 2025 to N1.2trillion from
N1.1trillion in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% as at Q3 2024, as revenue growth outpaced operating expenses. We
expect cost-to-income ratio to stay moderated from ongoing efficiency initiatives, cost optimization measures, and stronger revenue across the Group.
Profit before tax (PBT) increased by 10.4% to N616billion in Q3 2025 from N558billion
in Q3 2024. Profit after tax moderated to N447billion in Q3 2025 from N458billion in Q3 2024.
Compared to H1 2025 performance, profitability demonstrated resilience, as profit
before tax (PBT) increased by 91.9% from N321billion in H1 2025 YTD to N616billion
in Q3 2025. Profit after tax (PAT) also showed improvement in the period with a
107.9% increase to N447billion in Q3 2025 from N215 billion as at H1 2025 YTD.
The Group’s balance sheet increased with total assets growing by 25.8% to
N52.0trillion in Q3 2025 from N41.5trillion in FY 2024. The growth in balance sheet was
supported by customer deposits, which grew by 47.0% to N33.1trillion in Q3 2025 from
N22.5trillion in FY 2024. Loans and advances increased by 19.7% to N15.6trillion in Q3
2025 from N13.0trillion 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% 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.
The return on average equity (ROAE) stood at 15.4% in Q3 2025, down from 22.2% in
Q3 2024, while return on average assets (ROAA) also moderated to 1.3% in Q3 2025
from 1.8% in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025
from 60.8% as at Q3 2024.
Looking ahead, Access Holdings will continue to strengthen our franchise across all
our markets and businesses, deepen operational resilience, and create sustainable
value for all our stakeholders.
Sunday Ekwochi
COMPANY SECRETARY
