Access Holdings puts disclosure, BOFIA compliance at centre of 9M earnings call

Access Holdings Plc has prioritized regulatory compliance, transparency, and shareholder returns in its 2026 financial report. The group disclosed that its investment in subsidiaries reached N446.6bn, constituting 19.29% of shareholders' funds, exceeding the 10% threshold set by the BOFIA. Access Holdings' Group Managing Director, Innocent Ike, acknowledged the group's performance below its 2026 targets and outlined measures to meet the CBN's requirements, including recalling surplus capital from subsidiaries, selling minority stakes, and establishing a global subsidiary and intermediate holding company structure.

The Group reported a profit before tax of N667.36bn in the nine months ended September 2026, an 8.3% increase, while profit after tax rose by 5.9% to N474.17bn. However, four key performance indicators fell short of full-year guidance, with return on average equity at 14.1%, below the 20% target, and net interest margin at 4.4%, under the five percent target.

The group is pursuing minority stake sales in five countries, with a 7.44% stake in Access Bank Ghana sold in July 2026. Investors are advised to monitor the capital recalls, cost-to-income ratio, and a decision on a perpetual bond ahead of the January 7, 2027 call date.