Access Holdings Plc has posted a strong performance for the first quarter of 2026, reporting a profit before tax of ₦272.21 billion for the three months ended March 31, up from ₦222.78 billion recorded in the same period of 2025.
The unaudited results highlight the group’s resilience, driven by solid core banking operations, even as it contends with a challenging macroeconomic environment marked by inflation and rising operating costs.
Gross earnings remained substantial at ₦824.75 billion, although lower than the ₦964.57 billion recorded a year earlier. The decline reflects changing yield conditions and adjustments in the bank’s asset portfolio. Nevertheless, improved cost efficiency and balance sheet management helped sustain profitability, with net interest income rising significantly to ₦338.86 billion from ₦220.21 billion.
Impairment charges on financial assets increased sharply to ₦73.81 billion, compared to ₦21.77 billion in the corresponding period of 2025, indicating heightened credit risk exposure. Despite this, net interest income after impairment stood at ₦265.05 billion, underscoring the group’s capacity to absorb higher risk costs while maintaining earnings strength.
Non-interest income also recorded growth, reinforcing the group’s diversified revenue base. Net fee and commission income rose to ₦169.24 billion from ₦146.22 billion, while other operating income climbed to ₦51.68 billion, reflecting reduced reliance on traditional lending activities.
Operating expenses trended upward in line with expansion and inflationary pressures. Personnel costs increased to ₦131.64 billion, while other operating expenses rose to ₦271.57 billion. Depreciation and amortisation expenses also edged higher, driven by ongoing investments in technology and infrastructure.
Profit after tax stood at ₦216.54 billion, compared to ₦182.75 billion in the same period last year, after accounting for income tax expenses of ₦49.07 billion and a minimum tax charge of ₦6.60 billion. Profit attributable to equity holders of the parent company rose to ₦200.53 billion, reflecting improved shareholder returns.
However, total comprehensive income declined to ₦126.02 billion from a negative ₦39.58 billion in 2025, largely due to unfavourable movements in other comprehensive income components, including foreign currency translation and fair value adjustments.
On the balance sheet, total assets grew to ₦53.44 trillion as of March 31, 2026, up from ₦51.56 trillion at the end of December 2025. The expansion was driven by increases in investment securities, loans and advances, and cash balances.
Customer deposits remained the group’s primary funding source, rising to ₦34.95 trillion from ₦34.56 trillion, while total liabilities increased to ₦49.04 trillion. Shareholders’ equity strengthened to ₦4.40 trillion, supported by retained earnings, although non-controlling interest declined during the period.
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