NEWS
Access Holdings Posts N667.4bn Nine-Month Profit as Q3 Earnings Rebound 78 Percent
Access Holdings Posts N667.4bn Nine-Month Profit as Q3 Earnings Rebound 78 Percent
Nine-month profit before tax rose 8.29 percent to N667.36 billion, while profit after tax increased 5.95 percent to N474.17 billion.
Third-quarter pre-tax profit climbed 78.43 percent quarter-on-quarter to N253.23 billion, although it remained 14.35 percent below the corresponding period of 2025.
Lower impairment charges of N92.91 billion, down 73.45 percent, supported earnings as rising funding costs continued to weigh on interest income.
November 2, () – Access Holdings Plc reported a profit before tax of N667.36 billion for the nine months ended September 2026, representing an 8.29 percent increase from N616.25 billion recorded in the corresponding period of 2025.
The group’s t, uphird-quarter results showed a rebound from the preceding quarter, with profit before tax rising 78.43 percent to N253.23 billion from N141.92 billion in Q2 2026.
However, the figure was 14.35 percent lower than the N295.68 billion recorded in Q3 2025.
The financial results, released on November 2, 2026, combine the group’s half-year and nine-month performance following a delay in publishing its H1 results pending regulatory approvals from the Central Bank of Nigeria.
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Profit after tax for the nine-month period increased 5.95 percent to N474.17 billion from N447.55 billion, while basic earnings per share edged up to N8.02 from N8.00.
A representation of an Access Bank branch Photo credit Proshare
Lower impairment charges support earnings
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A major contributor to the group’s nine-month earnings was the sharp reduction in impairment charges, which fell 73.45 percent to N92.91 billion from N349.99 billion in the same period of 2025.
The N257.08 billion reduction in impairment expenses provided significant support to profitability, offsetting pressure from rising funding costs and operating expenses.
Interest income increased 6.91 percent to N3.10 trillion from N2.90 trillion. However, interest expense rose faster, increasing 10.09 percent to N1.81 trillion.
Consequently, net interest income grew by just 2.74 percent to N1.29 trillion from N1.26 trillion.
Interest earned on customer loans rose to N1.54 trillion from N1.38 trillion, but interest paid on customer deposits increased more sharply to N1.25 trillion from N805.62 billion.
The figures show how higher lending income was partly absorbed by the cost of mobilising deposits, limiting the improvement in net interest earnings.
Fee and commission income provided additional support, rising 8.40 percent to N650.87 billion.
With related expenses declining to N115.93 billion from N124.49 billion, net fee income increased 12.40 per cent to N534.94 billion.
However, other income movements were mixed. The group recorded a N138.81 billion fair-value hedge loss and a N19.91 billion loss on financial instruments measured at fair value.
A N27.28 billion bargain-purchase gain provided some support to earnings.
Operating expenses also increased. Personnel costs rose 20.51 percent to N432.12 billion, while other operating expenses grew 6.03 percent to N757.26 billion.
Access Holdings logo Photo credit Proshare
Q3 rebound does not match prior-year performance
The third-quarter results indicate a substantial recovery from Q2, but the year-on-year comparison remains weaker.
Profit before tax increased from N141.92 billion in Q2 to N253.23 billion in Q3, while profit after tax rose from N50.18 billion to N207.45 billion.
The stronger increase in after-tax earnings was partly supported by a lower tax charge.
The group’s Q2 tax expense was approximately N91.74 billion, based on the difference between the reported H1 and Q1 figures, compared with N45.78 billion in Q3.
Despite the sequential improvement, Q3 profit after tax remained 10.44 percent below the N231.63 billion recorded in Q3 2025.
Quarterly fee and commission income also declined 23.72 percent to N215.79 billion, while other operating income fell to N11.61 billion from N49.86 billion in the corresponding quarter of 2025.
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