Access Holdings’ 9M profit rises to N667bn as Q3 earnings rebound

Access Holdings Plc reported a pre-tax profit of N667.36 billion for the nine months ending September 2026, marking an 8.29 percent increase compared to N616.25 billion in the same period last year. The financial services group attributed its improved profitability to lower impairment charges and growth in interest and fee income.

The third quarter saw a strong recovery, with pre-tax profit rising by 78.43 percent to N253.23 billion from N141.92 billion in the second quarter. However, this recovery was still below the group's previous earnings level of N295.68 billion recorded a year earlier. The nine-month period saw profit after tax increase by 5.95 percent to N474.17 billion, while basic earnings per share increased marginally to N8.02 from N8.00.

A significant driver of the group's profitability was the reduction in impairment charges, which declined by 73.45 percent to N92.91 billion, saving approximately N257.08 billion. Interest income grew by 6.91 percent to N3.10 trillion, while net interest income increased by 2.74 percent to N1.29 trillion, though it was outpaced by rising funding costs.

Interest expenses rose by 10.09 percent to N1.81 trillion, limiting the benefit of higher lending income. Fee and commission income rose by 8.40 percent to N650.87 billion. Personnel expenses increased by 20.51 percent to N432.12 billion, and other operating expenses grew by 6.03 percent to N757.26 billion. Despite the quarterly recovery, some income lines weakened, with fee and commission income declining by 23.72 percent, and other operating income falling to N11.61 billion.

The group's total assets stood at N52.60 trillion, while cash and cash equivalents declined by 27.54 percent to N6.53 trillion.