Access Holdings Demonstrates Resilience Amidst Dynamic Operating Environment

Kyode Tokede narrates how Access Holdings Plc sustained its growth trajectory in its nine-month financial results as well as its agility in execution and the capacity to turn challenges into opportunities

In a year marked by economic headwinds, market volatility, and shifting regulatory dynamics, Access Holdings Plc has once again demonstrated resilience. The Group’s nine-month financial results for 2025 reveal growth in figures and  strength in fundamentals, as well as agility in execution and the capacity to turn challenges into opportunities across its expanding African footprint.

Giving the challenging environment, institutions are becoming more cautious and so is Access Holdings. But the Group continues to move ahead with assurance. Between January and September 2025, it recorded gross earnings of N3.9 trillion, representing a 14.1 per cent year-on-year growth from N3.4 trillion in the corresponding period of 2024. More significantly, compared to its half-year performance, earnings surged by 56.2 per cent, reflecting strong momentum across both banking and non-banking subsidiaries.

Steady Growth Across Segments

The performance was powered primarily by a surge in interest income, which rose 21.1 per cent to N2.9 trillion, driven by expansion in the loan book and disciplined asset optimisation. Net interest income followed the same upward trajectory, climbing nearly 49 per cent to N1.3 trillion.

Complementing this was a solid showing in fees and commissions,  an area that continues to benefit from the Group’s growing digital ecosystem. Net fee and commission income rose 44.3 per cent year-on-year to N476 billion, reflecting rising transaction volumes and deeper customer engagement across digital and alternative channels. When viewed quarter-on-quarter, this figure represents a 100.8 per cent increase from the half-year, signaling renewed consumer confidence and expanding market reach.

While total non-interest income slipped marginally by 8.1 per cent to N872 billion, the Group’s strong core operations ensured overall earnings growth remained robust. Operating income advanced 19 per cent to N2.13 trillion, reinforcing Access Holdings’ ability to balance scale with efficiency.

Navigating Headwinds with Discipline

The broader Nigerian macro-economic environment has remained challenging, characterised by inflationary pressures, currency volatility, and tight liquidity. For Access Holdings, these conditions translated into a rise in loan impairment charges, which increased 141.5 per cent to N350 billion. Even against this backdrop, the Group managed its costs with remarkable discipline. Operating expenses rose by a modest 6.7 per cent, helping the cost-to-income ratio improve to 54.6 per cent, from 60.8 per cent a year earlier.

This operational efficiency underpinned a profit before tax of N616 billion, up 10.4 per cent year-on-year, while profit after tax reached N447 billion. More strikingly, when viewed sequentially, Access Holdings’ profitability accelerated sharply, with profit before tax climbing 91.9 per cent and profit after tax more than doubling (107.9 per cent) compared to the half-year period.

Such performance, analysts say, underscores the Group’s ability to respond dynamically to market realities while sustaining growth. “Access Holdings is showing that strategic diversification works,” noted one Lagos-based financial analyst. “It has built an institution resilient enough to withstand domestic challenges while drawing strength from its growing international footprint.”

Stronger Balance Sheet, Broader Horizon

The Group’s balance sheet expansion remains one of the strongest in the industry. Total assets jumped 25.8 per cent to N52 trillion, propelled by customer deposits, which rose 47 per cent to N33.1 trillion. Loans and advances also grew 19.7 per cent to N15.6 trillion, reaffirming Access Holdings’ commitment to supporting productive sectors and private enterprise across markets.

One of the most remarkable aspects of this growth story is the performance of the Group’s non-Nigerian subsidiaries, which now contribute over half of consolidated results. From Ghana to Kenya, South Africa to the UK, Access Holdings’ pan-African and international operations  through its banking subsidiaries, have become a stabilising force, insulating the Group from the full impact of domestic macroeconomic pressures.

This strategic diversification, both sectorally and geographically, has emerged as a core differentiator in a banking landscape grappling with policy shifts, regulatory tightening, and evolving customer needs. It’s a long-term play that is beginning to pay dividends.

Resilience Rooted in Strategy

Apart from the impressive numbers, Access Holdings’ success is anchored in a clear strategy: build a financial ecosystem that connects individuals, businesses, and markets across Africa and beyond. The Group continues to deepen synergies across its banking, insurance, pension, payments, and asset management businesses, creating a vertically integrated model designed for scale, efficiency, and sustainability.

Even as return on equity (ROE) and return on assets (ROA) moderated slightly to 15.4 per cent and 1.3 per cent, respectively, the Group’s management remains focused on long-term value creation. Its digital transformation initiatives, regional expansion, and robust risk management framework all point toward sustained competitiveness in an increasingly integrated financial landscape.

According to the Group’s management, the focus going forward will be on “deepening market presence, strengthening operational resilience, and delivering long-term value for stakeholders.” That ambition is underpinned by a clear understanding of the shifting financial ecosystem,  where technology, innovation, and trust increasingly define success.

Compelling Proposition for Investors

For investors, Access Holdings remains one of the most compelling plays in Nigeria’s financial services sector. Its earnings momentum, disciplined cost management, and pan-African expansion give it an edge in both growth potential and stability. The Group’s ability to generate consistent returns amid macroeconomic turbulence reinforces its standing as a reliable long-term investment option.

In a year when global uncertainty continues to shape market sentiment, Access Holdings’ trajectory offers a counter-narrative,  one of resilience, adaptability, and focused execution. Its story is no longer just about size or scale, but about strategy and sustainability.

As the Group looks ahead to year-end, the message from its nine-month results is unmistakable: Access Holdings is not merely navigating the storm,  it is building strength within it. In doing so, it continues to define what it means to be a modern African financial institution: resilient, diversified, and future ready.