Access Holdings Plc (NGX: ACCESSCORP) has reported half-year results for the six months ended 30 June 2026, with profit before tax (PBT) climbing 29.2% year on year to ₦414.1 billion from ₦320.6 billion in H1 2025.
According to its unaudited half-year results on the NGX, the group reported profit before tax of ₦414.1 billion and profit after tax of ₦266.7 billion on gross earnings of ₦2.61 trillion.
Annualised return on average equity was 18.3% before tax and 11.8% after tax.
Key highlights
– Gross earnings: ₦2.614 trillion (+4.6%)
– Interest income: ₦2.148 trillion (+5.1%)
– Net interest income: ₦999.6 billion (+1.5%)
– Net interest income after impairment: ₦930.6 billion (+23.3%)
– Core operating income: ₦1.359 trillion (+11.2%)
– Operating expenses: ₦906.7 billion (+12.1%)
– PBT: ₦414.1 billion (+29.2%)
– PAT: ₦266.7 billion (+23.5%)
On the balance sheet, total assets rose 6.8% year-to-date to ₦55.2 trillion as at 30 June 2026.
Customer deposits increased 7.9% to ₦37.3 trillion, while loans and advances to customers grew 5.9% to ₦14.1 trillion. Shareholders’ funds edged up 2.0% to ₦4.57 trillion.
Net interest margin improved to 4.9% (from 3.8% at the end of 2025), supported by a higher yield on assets (10.5%) and a lower cost of funds (5.4%).
However, the cost-to-income ratio rose to 65.2% from 51.7% in FY 2025, largely due to higher personnel costs linked to investments in talent and growth initiatives.
Access Bank accounted for 96.8% of the group’s profit before tax. The group said its subsidiaries across Africa and international markets form an interconnected network that can capture trade between African and global markets, citing the African Continental Free Trade Area and the Pan-African Payment and Settlement System as openings.
Group Managing Director and CEO Innocent Ike said the group’s expansion has created a diversified financial services business and that it is now focused on unlocking its potential through stronger performance and long-term shareholder returns.
Access Pensions manages more than ₦4.6 trillion for over two million retirement savings account holders. The group said Access Pensions and Access Insurance Brokers delivered annualised returns on equity of 57.8% and 114.2%, with cost-to-income ratios of 36.9% and 23.1%.
Hydrogen Payment Services processed transactions worth ₦86 trillion in the half-year. Oxygen X Finance originated about 12,000 loans worth ₦20 billion.
These capital-light businesses are helping to improve overall earnings quality and support the group’s digital and inclusion agenda.
Total assets reached ₦55.2 trillion at 30 June 2026. Customer deposits stood at ₦37.3 trillion, loans to customers at ₦14.1 trillion and shareholders’ funds at ₦4.57 trillion.
The group put its cost-to-income ratio at 65.2%, citing higher personnel expenses as it invests in talent and growth. Annualised return on average equity was 18.3% before tax and 11.8% after tax.
Management said it aims to improve returns by growing interest income, expanding low-cost deposits, raising fee and digital revenue, and containing costs.
Access Holdings said it is working to comply with Section 19(8)(c) of the Banks and Other Financial Institutions Act, which limits the bank’s investment in subsidiaries to 10% of shareholders’ funds. It plans to recall capital from six banking subsidiaries.
One recall is complete, shareholders in four of the other five have approved it, and regulatory approvals are under way.
The group expects to finish within the Central Bank of Nigeria’s timeline and said completion should remove the constraint on dividend payments.
Access Holdings is Africa’s leading banking-led financial services group by total assets, with Access Bank at its core and complementary businesses in payments, pensions, consumer finance and insurance brokerage.
Administrator and Writer
