Access Holdings Plc (“the Group” or “the Company”) has announced its financial results for the nine months ended September 30, 2025 (Q3 2025), recording gross earnings of ₦3.9 trillion, a 14.1% year-on-year increase from ₦3.4 trillion in Q3 2024.
The Group’s performance was underpinned by sustained growth in interest income and fees and commission, reflecting the strength of its diversified business model across banking and non-banking operations.
Quarter-on-quarter, gross earnings also surged by 56.2% from ₦2.5 trillion reported at Half Year (H1) 2025.
Interest income rose by 21.1% to ₦2.9 trillion, while net interest income climbed 48.9% to ₦1.3 trillion, driven by loan book expansion and a strategic focus on high-yield, quality assets. On a quarter-on-quarter basis, interest income and net interest income grew 42.1% and 27.8%, respectively.
Net fee and commission income jumped 44.3% year-on-year to ₦476 billion, reflecting increased customer activity across digital and payment channels. Sequentially, this metric more than doubled, rising 100.8% from ₦237 billion in H1 2025.
Although total non-interest income dipped slightly by 8.1% to ₦872 billion, strong core operational growth continued to bolster overall earnings.
Operating income increased 18.8% to ₦2.13 trillion, while operating expenses grew modestly by 6.7% to ₦1.2 trillion, improving the cost-to-income ratio (CIR) to 54.6% from 60.8% in Q3 2024.
Profit before tax (PBT) rose 10.4% to ₦616 billion, while profit after tax (PAT) slightly moderated to ₦447 billion. Compared to H1 2025, PBT and PAT surged 91.9% and 107.9%, respectively, showcasing strong sequential recovery. 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.
