Access Holdings has announced robust financial results for the nine-month period ended September 30, 2025, with gross earnings surging 14.1% year-on-year to ₦3.9 trillion, from ₦3.4 trillion recorded in Q3 2024.
The financial services group’s performance was underpinned by sustained growth in net fee and commission income, reflecting the strength of its diversified earnings base and improved operational efficiency across its banking and non-banking businesses.
Maintaining momentum from previous quarters, gross earnings rose by 56.2% quarter-on-quarter from ₦2.5 trillion in the first half of 2025.
Interest income climbed 21.1% year-on-year to ₦2.9 trillion in Q3 2025, up from ₦2.4 trillion in Q3 2024. Net interest income also increased by 48.9% to ₦1.1 trillion, from ₦645 billion in the same period, driven by loan-book expansion and the group’s disciplined risk-management approach.
Every quarter, interest income and net interest income grew by 42.1% and 27.8%, respectively, compared with ₦2.0 trillion and ₦984 billion in H1 2025.
Net fee and commission income showed remarkable growth of 44.3% to ₦476 billion in Q3 2025, from ₦330 billion in Q3 2024, reflecting higher transaction volumes and increased customer activity across digital and payment channels. Quarter-on-quarter, this income stream increased by 100.8% from ₦237 billion in H1 2025.
Operating income rose 18.8% to ₦2.13 trillion in Q3 2025, from ₦1.8 trillion in Q3 2024, while profit before tax increased by 10.4% to ₦616 billion from ₦558 billion year-on-year. Profit after tax moderated to ₦447 billion in Q3 2025 from ₦458 billion in Q3 2024.
However, a comparison with half-year performance shows stronger resilience, with profit before tax increasing by 91.9% from ₦321 billion in H1 2025 to ₦616 billion in Q3 2025, and profit after tax rising by 107.9% to ₦447 billion from ₦215 billion.
The group’s cost-to-income ratio improved significantly to 54.6% in Q3 2025 from 60.8% in Q3 2024, as revenue growth outpaced operating expenses. Operating expenses increased marginally by 6.7% to ₦1.2 trillion, from ₦1.1 trillion in Q3 2024.
The group’s balance sheet strengthened, with total assets growing by 25.8% to ₦52.0 trillion in Q3 2025 from ₦41.5 trillion in FY 2024. Customer deposits surged by 47.0% to ₦33.1 trillion from ₦22.5 trillion, while loans and advances increased by 19.7% to ₦15.6 trillion from ₦13.0 trillion.
Impairment on loans increased by 14.5% to ₦350 billion as of Q3 2025, from ₦305 billion in Q3 2024.
Access Holdings’ strong performance was largely driven by its non-Nigerian subsidiaries, which together contributed over 50% of consolidated results. These subsidiaries delivered strong growth across key metrics, reflecting the benefits of diversification and deepening franchise strength across African markets.
By contrast, Nigerian operations underperformed during the period, attributable to challenging macroeconomic conditions, inflationary pressures, and continued regulatory adjustments.
The return on average equity (ROAE) stood at 15.4% in Q3 2025, down from 22.2% in Q3 2024, while return on average assets (ROAA) moderated to 1.3% from 1.8%.
Looking ahead to the remainder of 2025, Company Secretary Sunday Ekwochi, in a statement Friday, said, “We will continue to strengthen our franchise across all our markets and businesses, deepen operational resilience, and create sustainable value for all our stakeholders.”
He added: “We appreciate the continued trust and support of our shareholders, customers, and employees. Together, we are shaping a resilient and inclusive franchise that is anchored in prudent portfolio management, guided by innovation, and committed to sustainable growth.”
The group expects its cost-to-income ratio to remain moderate, as ongoing efficiency initiatives, cost-optimisation measures, and stronger revenue drive continued improvement across the organisation.
