Access Holdings Plc (NGX: ACCESSCORP) reported Q3 2026 profit after tax of ₦474.2 billion for the period ended 30 September, up 5.9% from ₦447.5 billion a year earlier.
A sharp fall in loan impairments helped offset rising costs, according to interim statements filed with the Nigerian Exchange (NGX).
Profit before tax rose 8.3% to ₦667.4 billion. Profit attributable to shareholders edged up to ₦429.9 billion from ₦426.7 billion, while basic earnings per share was 802 kobo.
Key results
– Interest income was ₦3.10 trillion and interest expense ₦1.81 trillion; net interest income rose to ₦1.29 trillion from ₦1.26 trillion.
– Impairment charges fell 73.5% to ₦92.9 billion from ₦350.0 billion.
– Net fee and commission income increased 12.4% to ₦534.9 billion from ₦475.9 billion.
– Personnel costs rose to ₦432.1 billion from ₦358.6 billion; other operating expenses increased to ₦757.3 billion from ₦714.2 billion.
– Income tax was ₦193.2 billion, an effective rate of about 28.9%.
Third-quarter profit before tax was ₦253.2 billion and profit after tax ₦207.5 billion. Total operating income fell 3.2% to ₦2.06 trillion as other operating income dropped 40.8% to ₦234.5 billion. Net foreign exchange gains were ₦205.3 billion, versus ₦255.4 billion a year earlier, alongside a ₦138.8 billion net fair-value hedge loss. A ₦27.3 billion acquisition bargain-purchase gain partly offset these items.
A ₦278.2 billion foreign-currency translation loss contributed to other comprehensive losses of ₦262.4 billion and total comprehensive income of ₦211.7 billion.
At 30 September 2026, total assets were ₦52.60 trillion, up from ₦51.71 trillion at December 2025. Deposits rose 6.6% to ₦36.85 trillion, loans and advances 7.4% to ₦14.33 trillion, and equity stood at ₦4.49 trillion.
The group repaid ₦691.9 billion in debt securities, cutting the balance to ₦166.3 billion from ₦920.5 billion, and raised ₦21.4 billion through a rights issue. Operating activities used ₦665.8 billion in cash; period-end cash and equivalents were ₦6.53 trillion. No dividend was paid in 2026, and finance costs on Additional Tier 1 capital totalled ₦122.4 billion.
The group generated 96.0% of group profit before tax. Outside Nigeria, operations contributed 82.2% of banking-group profit: international subsidiaries 43.7%, the rest of Africa 38.5%, and Nigeria 17.8%.
Management identified five Scale-to-Value priorities: execution capacity, risk governance and compliance, capital discipline, operating efficiency, and earnings quality.
It is also addressing the Banks and Other Financial Institutions Act limit on subsidiary investments through planned capital recalls from six banking subsidiaries.
One recall is complete, and shareholders approved four of the remaining five. The group expects to finish within the Central Bank of Nigeria’s timeline, removing the constraint on dividend payments.
The group now calculates tax under the Nigeria Tax Act 2025, including a 15% minimum effective rate for qualifying multinational members, and has stopped applying hyperinflation accounting to Ghana operations. Executive Director Lanre Bamisebi retired on 30 September 2026.
Administrator and Writer
