Access Holdings Plc recorded a pre-tax profit of N667.36 billion for the nine months ended September 2026, representing an 8.29 per cent increase from the N616.25 billion reported in the corresponding period of 2025.
The financial services group disclosed the figures in its financial results filed with the Nigerian Exchange Limited (NGX) on Monday, November 2, 2026.
The results also showed a significant quarterly recovery in profitability, although earnings remained below the level recorded in the corresponding quarter of the previous year.
Access Holdings posted a pre-tax profit of N253.23 billion in the third quarter of 2026, representing a 78.43 per cent increase from N141.92 billion in the second quarter. However, the figure was 14.35 per cent lower than the N295.68 billion recorded in Q3 2025.
Profit after tax followed a similar trend, rising by 313.41 per cent quarter-on-quarter to N207.45 billion from N50.18 billion. On a year-on-year basis, however, it declined by 10.44 per cent from N231.63 billion.
The group released the results alongside its half-year financial statements after delays associated with obtaining regulatory approvals from the Central Bank of Nigeria.
Lower impairment charges support earnings
A substantial reduction in impairment charges was a major factor behind the group’s improved nine-month profitability.
Impairment expenses dropped by 73.45 per cent to N92.91 billion from N349.99 billion in the corresponding period of 2025, representing a reduction of N257.08 billion.
The decline significantly eased the pressure on the group’s earnings and helped offset rising funding and operating costs.
Interest income rises as funding costs mount
Access Holdings also recorded growth in interest income, although the increase was partly eroded by higher interest expenses.
Interest income rose by 6.91 per cent to N3.10 trillion from N2.90 trillion, while interest expenses increased by 10.09 per cent to N1.81 trillion.
Consequently, net interest income grew by a modest 2.74 per cent to N1.29 trillion, compared with N1.26 trillion in the corresponding period.
Interest earned on customer loans increased to N1.54 trillion from N1.38 trillion.
However, interest paid on customer deposits climbed significantly to N1.25 trillion from N805.62 billion, reflecting the rising cost of funding the group’s banking operations.
Non-interest income also contributed to revenue growth during the period.
Fee and commission income increased by 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 pushed net fee income up by 12.40 per cent to N534.94 billion.
On the balance sheet, Access Holdings reported total assets of N52.60 trillion, representing a 0.78 per cent increase from N52.20 trillion recorded a year earlier.
However, debt securities and interest-bearing borrowings declined by 37.44 per cent to N2.05 trillion, while cash and cash equivalents fell by 27.54 per cent to N6.53 trillion.
Overall, the group’s nine-month results reflect improved profitability, supported largely by lower impairment charges and stronger fee-based income.
Nevertheless, the relatively slow growth in net interest income, rising operating costs and marginal increase in earnings per share point to continuing pressure on the quality and sustainability of its earnings growth.
The group’s ability to strengthen core income, manage funding expenses and contain operating costs will remain important to sustaining its financial performance.
