Access Holdings Plc has reported a profit after tax of ₦474.2bn for the nine months ended September 30, 2026, representing a 5.9 per cent increase from the ₦447.55bn recorded in the corresponding period of 2025.
The financial performance was supported by a significant reduction in impairment charges and growth in interest and fee income, although rising operating expenses and weaker other operating income continued to weigh on the group’s revenue performance.
According to the unaudited financial results released by the financial services group, profit before tax increased by 8.3 per cent to ₦667.36bn from ₦616.25bn in the corresponding period of 2025.
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Interest income rose by 6.9 per cent to ₦3.10tn, while net interest income increased by 2.7 per cent to ₦1.29tn.
A 73.5 per cent reduction in impairment charges, which fell to ₦92.91bn from ₦349.99bn, helped lift net interest income after impairment charges by 32.1 per cent to ₦1.20tn.
Fee and commission income also increased by 8.4 per cent to ₦650.87bn, while net fee and commission income grew by 12.4 per cent to ₦534.94bn.
The group recorded core operating income of ₦1.83tn, representing a 5.4 per cent increase from the previous year’s figure.
However, the results showed pressure from rising costs and weaker non-core revenue streams.
Operating expenses increased by 11.8 per cent to ₦1.30tn, while other operating income declined by 40.8 per cent to ₦234.53bn.
Consequently, total operating income fell by 3.2 per cent to ₦2.06tn from ₦2.13tn in the corresponding period of 2025.
The group’s balance sheet expanded during the period, with total assets increasing by 1.7 per cent to ₦52.60tn as of September 30, 2026.
Customer deposits rose by 6.6 per cent to ₦36.85tn, while loans and advances to customers increased by 7.4 per cent to ₦14.33tn.
Shareholders’ funds remained broadly stable at ₦4.49tn.
Geographic diversification remained a significant contributor to earnings, with the banking group accounting for 96 per cent of the group’s profit before tax.
Within the banking group’s contribution, operations outside Nigeria accounted for 82.2 per cent of profit before tax, comprising 43.7 per cent from international banking subsidiaries and 38.5 per cent from the rest of Africa. Nigeria contributed 17.8 per cent.
The group said its Scale-to-Value strategy was focused on improving the productivity of its established infrastructure, strengthening earnings quality and translating its international presence into sustainable shareholder returns.
The strategy is built around five priorities: execution capacity, risk governance and regulatory compliance, capital discipline, operating efficiency and earnings quality.
Another major focus is compliance with Section 19(8)(c) of the Banks and Other Financial Institutions Act, which limits a bank’s investment in subsidiaries to 10 per cent of its shareholders’ funds.
Access Holdings said it had identified capital recalls from six banking subsidiaries to bring its investment-in-subsidiaries ratio within the statutory threshold.
One of the six capital recalls had been completed, while shareholder approvals had been obtained for four of the remaining five. Regulatory approvals were also progressing.
Management said completion of the process was expected to remove the regulatory constraint affecting dividend distributions.
However, any future dividend payment would remain subject to the group’s financial position, distributable reserves, capital requirements and relevant regulatory approvals.
The nine-month results also showed stronger performance in the third quarter. Standalone profit before tax for the three months ended September 30, 2026, rose to ₦253.23bn from ₦166.32bn in the corresponding period of 2025, while profit after tax increased to ₦207.45bn from ₦102.28bn.
The figures underline the group’s improved quarterly earnings performance, even as management continues to focus on cost control, regulatory compliance and the quality of its revenue streams.
