Access Holdings Plc reported gross earnings of ₦2.5 trillion for the first half of 2024, marking a 13.8 per cent rise from ₦2.2 trillion in the same period. This growth was fueled by a significant 38.9 per cent increase in interest income, which surged to ₦2.0 trillion from ₦1.5 trillion in H1 2024.
Access Holdings’ net interest income grew by 91.8 per cent year-on-year, reaching ₦984.6 billion in H1 2025 compared to ₦513.4 billion in H1 2024, based on the company’s audited half-year financial results for the period ending June 30, 2025.
The Group’s financial results for the half-year ending June 30, 2025, showcase the strength of its business model, the variety in revenue sources, and consistent progress in carrying out the company’s five-year strategic plan.
Sunday Ekwochi, the Company Secretary, stated that the performance was boosted by a 16.1 per cent year-on-year increase in net fees and commission income, which rose to ₦237.7 billion in H1 2025 from ₦204.7 billion in H1 2024.
“Profit before tax (PBT) reached ₦320.6 billion, while profit after tax (PAT) totaled ₦215.9 billion, highlighting the robustness and adaptability of our business model across the markets we serve”, he stated, noting that key balance sheet indicators remain strong as total assets, customer deposits, loans and advances, and shareholders’ equity closed at ₦42.4 trillion, ₦22.9 trillion, ₦13.2 trillion ₦3.8 trillion, respectively.
The Banking Group showed strong performance in H1 2025. Interest income rose by 38.7% year-on-year to ₦2.0 trillion from ₦1.5 trillion in H1 2024, while net interest income jumped 85% from ₦536.7 billion to ₦992.7 billion.
Fee and commission income grew 27 per cent to ₦294.9 billion, driven by increased transaction volumes. Profit before tax (PBT) reached ₦303.0 billion, and profit after tax (PAT) stood at ₦199.3 billion. Subsidiaries contributed 65 per cent of the Group’s PBT, reflecting sustainable performance across key African and international markets.
Non-banking subsidiaries also delivered strong results.
Access-ARM Pensions saw revenue rise 29.9 per cent to ₦21.0 billion, with PBT up 65.1 per cent to ₦13.1 billion, delivering a ROAE of 48.1 per cent, a cost-to-income ratio of 35.1 per cent, and a PBT margin of 62.5 per cent.
Hydrogen Payments achieved a 40.5 per cent revenue growth and a 273 per cent increase in PBT, processing ₦41.1 trillion in transactions, up from ₦13.8 trillion.
Access Insurance Brokers recorded a 125 per cent rise in gross written premium, 146 per cent revenue growth, and a 161 per cent increase in PBT. Meanwhile, Oxygen X, the digital lending arm, generated ₦5.4 billion in revenue and ₦2.2 billion in PBT, maintaining strong momentum since its Q3 2024 launch.
Access Holdings remains well-positioned to deepen market penetration, Ekwochi noted.
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