Access Holdings Plc (NGX: ACCESSCORP) reported a profit growth and improved earnings quality for the nine months ended 30 September 2026, with profit before tax rising 8.3% to ₦667.4 billion and profit after tax increasing 5.9% to ₦474.2 billion.
According to the results released on NGX, were driven by increase in core income and a sharp 73.5% drop in impairment charges to ₦92.9 billion.
The group said impairment charges fell to ₦92.9 billion, which lifted net interest income after impairment to ₦1.2 trillion.
Net fee and commission income was ₦534.9 billion, and core operating income came to ₦1.83 trillion. Operating expenses were ₦1.3 trillion, and management said it will work to moderate expense growth.
Group Managing Director and CEO Innocent Ike said the results show the strength of the group’s core earnings base and that the priority is stronger earnings quality and sustainable shareholder returns.
In his words “the significant reduction in impairment charges, together with growth in net interest income after impairment and net fee and commission income, demonstrates the resilience of our core earnings base,” he noted.
Gross earnings edged up 2.3% to ₦4.0 trillion. Interest income rose 6.9% to ₦3.1 trillion, though higher interest expense limited net interest income growth to 2.7% at ₦1.3 trillion. Operating expenses increased 11.8% to ₦1.3 trillion.
The balance sheet remained resilient. Total assets grew 1.7% to ₦52.6 trillion from ₦51.7 trillion at the end of 2025. Customer deposits rose 6.6% to ₦36.8 trillion and loans and advances to customers increased 7.4% to ₦14.3 trillion. Shareholders’ funds were broadly stable at ₦4.5 trillion.
The Banking Group accounted for 96% of group profit before tax. Operations outside Nigeria contributed 82.2% of Banking Group PBT, with international banking subsidiaries at 43.7%, Rest of Africa 38.5%, and Nigeria 17.8%.
Access Holdings highlighted ongoing progress under its “Scale-to-Value” agenda, focused on stronger execution capacity, robust risk governance and regulatory compliance, disciplined capital allocation, greater operating efficiency, and improved capital productivity.
The group also reported progress toward compliance with BOFIA Section 19(8)(c), which limits the bank’s investment in subsidiaries to 10% of shareholders’ funds. Capital recalls from six banking subsidiaries are underway; one has been completed and shareholder approvals secured for four others.
Management expects to finish the programme within the Central Bank of Nigeria’s timeline, which should remove the related regulatory constraint on dividend distributions.
Administrator and Writer
