Access Holdings posts N667.4 billion nine-month pre-tax profit as Q3 earnings rebound 78.4%

Access Holdings Plc announced a nine-month pre-tax profit of N667.36 billion as of September 2026, marking an 8.29% increase compared to N616.25 billion in the same period last year. The third-quarter earnings soared by 78.43% to N253.23 billion, up from N141.92 billion in Q2 2026, yet fell 14.35% year-on-year to N295.68 billion.

The company disclosed its interim results on November 2, 2026, following Central Bank of Nigeria approvals. Access Holdings' half-year and nine-month reports were delayed pending regulatory clearance.

Interest income grew to N3.10 trillion, up 6.91% year-on-year, while fees and commissions totaled N650.87 billion, representing an 8.40% increase from N600.40 billion. Net interest income rose to N1.29 trillion, a modest 2.74% rise from N1.26 trillion. Pre-tax profit reached N667.36 billion, up 8.29% from the previous year. Profit after tax stood at N474.17 billion, an 5.95% increase from N447.55 billion, and basic earnings per share amounted to N8.02, a 0.25% gain from N8.00.

In Q3, pre-tax profit grew to N253.23 billion, a notable 78.43% jump from N141.92 billion in the previous quarter, yet it declined 14.35% year-on-year from N295.68 billion. Total assets stood at N52.60 trillion, a slight 0.78% increase from N52.20 trillion. Debt securities and interest-bearing borrowings fell to N2.05 trillion, a significant 37.44% decrease from N3.28 trillion.

While excluding deposits, lease liabilities, and Additional Tier 1 capital, cash and cash equivalents reduced to N6.53 trillion, down 27.54% from N9.01 trillion.

Access Holdings' performance in Q3 marked a turnaround from the weaker Q2 results. However, the profit for the nine-month period remained below the corresponding quarter of 2025. The company's mixed other income movements were attributed to a N138.81 billion fair-value hedge loss and a N19.91 billion loss on financial instruments at fair value. Despite the quarter-on-quarter recovery, Q3 earnings fell short of the prior-year levels.