Access Holdings Plc has reported a profit before tax of N667.4 billion for the nine months ended September 30, 2026, representing an increase of 8.3 per cent compared with the corresponding period of the previous year.
The financial services group disclosed the performance in its unaudited financial results announced on November 2, 2026.
The results also showed that profit after tax increased by 5.9 per cent to N474.2 billion, reflecting improved earnings performance during the reporting period.
The group’s performance was supported by growth in core income, improved net fee and commission income and a significant reduction in impairment charges.
The latest figures demonstrate the group’s continued efforts to strengthen its financial performance and improve the quality of earnings across its operations.
Gross earnings reach N4 trillion
Access Holdings recorded gross earnings of approximately N4 trillion during the nine-month period, representing an increase of 2.3 per cent year-on-year.
Interest income rose by 6.9 per cent to N3.1 trillion, while net interest income increased by 2.7 per cent to N1.3 trillion.
The growth reflects the contribution of interest-generating assets to the group’s overall revenue.
However, interest expenses also increased by 10.1 per cent to N1.8 trillion, highlighting the importance of managing funding costs as financial institutions compete for customer deposits.
The group also recorded an improvement in income generated from fees and commissions.
Fee and commission income increased by 8.4 per cent to N650.9 billion, while net fee and commission income rose by 12.4 per cent to N534.9 billion.
Core operating income increased by 5.4 per cent to N1.83 trillion.
Reduction in impairment charges supports profitability
One of the major highlights of the results was the reduction in impairment charges.
Access Holdings reported that impairment charges declined by 73.5 per cent to N92.9 billion.
This contributed to a 32.1 per cent increase in net interest income after impairment charges, which reached approximately N1.20 trillion.
Impairment charges represent provisions recognised by financial institutions for potential losses associated with loans and other financial assets.
A reduction in these charges can improve profitability because less income is allocated to cover expected credit losses.
However, banks must continue monitoring loan performance and maintaining adequate provisions to manage potential risks.
Operating expenses remain a consideration
Despite the improvement in earnings, operating expenses increased by 11.8 per cent to N1.3 trillion during the period.
Rising operating costs remain an important issue for financial institutions because they can affect efficiency and reduce the benefits of revenue growth.
Access Holdings said its Scale-to-Value strategy focuses on stronger execution, improved risk governance, regulatory compliance, disciplined capital allocation and greater operating efficiency.
The strategy is intended to strengthen the group’s ability to generate sustainable returns while improving the productivity of its capital and resources.
Total assets increase to N52.6 trillion
The group’s balance sheet also recorded growth during the reporting period.
Total assets increased by 1.7 per cent to N52.6 trillion as of September 30, 2026, compared with N51.7 trillion at the end of December 2025.
Customer deposits rose by 6.6 per cent to N36.8 trillion, while loans and advances to customers increased by 7.4 per cent to N14.3 trillion.
Shareholders’ funds remained broadly stable at approximately N4.5 trillion.
The increase in customer deposits indicates continued growth in the group’s deposit base, while the expansion in loans and advances reflects its lending activities.
Banking operations remain the major contributor
The Banking Group remained the principal contributor to Access Holdings’ earnings, accounting for 96 per cent of the group’s unaudited profit before tax during the nine-month period.
This highlights the importance of its banking operations to the overall performance of the financial services group.
The group’s diversified structure also includes other financial services businesses that contribute to its broader operations.
Outlook for the financial group
Access Holdings’ latest results highlight improved profitability and stronger earnings quality during the first nine months of 2026.
However, the group will need to continue managing operating expenses, credit risks and funding costs as it pursues further growth.
The banking industry also faces changing regulatory requirements, competition for deposits and wider economic uncertainties.
For investors, the performance provides an important indication of the group’s earnings capacity and balance sheet position.
The final financial performance for the full year will depend on developments in interest income, impairment charges, operating costs and other business activities during the remaining months of 2026.
