Reported by Weng Patrick Atokor l Journalist at Weng Global
Access Holdings Plc has reported a profit after tax of ₦474.17 billion for the nine months ended September 30, 2026, representing a 5.9 per cent increase from the ₦447.55 billion recorded during the corresponding period of 2025.
The Nigerian financial services group disclosed the performance in its unaudited nine-month financial results, highlighting improved earnings after impairment charges declined significantly, alongside growth in interest income and fee-based revenue.
The results also showed that profit before tax increased by 8.3 per cent to ₦667.36 billion, compared with ₦616.25 billion recorded in the first nine months of 2025.
Despite the improvement in profitability, the financial statements revealed continuing pressure from rising operating expenses and a decline in other operating income, indicating that cost management remains an important challenge for the banking group.
Access Holdings’ Nine-Month Financial Performance
According to the company’s financial results, gross earnings increased by 2.3 per cent to approximately ₦3.99 trillion, compared with ₦3.90 trillion in the corresponding period of the previous year.
Interest income, one of the group’s major revenue sources, rose by 6.9 per cent to ₦3.10 trillion from ₦2.90 trillion.
However, interest expenses also increased by 10.1 per cent to ₦1.81 trillion, reflecting higher costs associated with the group’s funding activities.
Consequently, net interest income grew by a more modest 2.7 per cent to ₦1.29 trillion, compared with approximately ₦1.26 trillion in 2025.
One of the most significant improvements came from impairment charges, which declined by 73.5 per cent to ₦92.91 billion from ₦349.99 billion.
The reduction helped increase net interest income after impairment charges by 32.1 per cent to approximately ₦1.20 trillion, compared with ₦907.95 billion recorded a year earlier.
The improvement suggests that lower impairment costs played an important role in strengthening the group’s earnings during the reporting period.
Fee Income Supports Earnings Growth
Access Holdings also recorded growth in income generated from fees and commissions.
Fee and commission income increased by 8.4 per cent to ₦650.87 billion, compared with ₦600.40 billion in the corresponding period of 2025.
After accounting for fee and commission expenses, net fee and commission income rose by 12.4 per cent to ₦534.94 billion from ₦475.92 billion.
Core operating income consequently increased by 5.4 per cent to ₦1.83 trillion.
The growth in fee-based revenue is significant because it demonstrates the group’s ability to generate income beyond traditional interest-earning activities.
For financial institutions with extensive banking operations, transaction services, payments and other fee-generating activities can provide additional revenue streams and help diversify earnings.
Operating Expenses Remain a Concern
Although profitability improved, the results showed that Access Holdings continued to face pressure from rising operating costs.
Operating expenses increased by 11.8 per cent to ₦1.30 trillion from ₦1.16 trillion recorded in the same period of 2025.
At the same time, other operating income declined by 40.8 per cent to ₦234.53 billion from ₦396.46 billion.
The combined effect contributed to a 3.2 per cent decline in total operating income, which fell to ₦2.06 trillion from ₦2.13 trillion.
The figures highlight a gap between revenue generation and cost growth, making operational efficiency an important factor in the group’s future financial performance.
Management has identified cost discipline, stronger recurring income and improved productivity as priorities under its Scale-to-Value strategy.
The strategy is intended to move the group beyond expansion towards improving the productivity of its existing operations and converting its business scale into more sustainable shareholder returns.
Access Holdings’ Balance Sheet Expands
The group’s balance sheet also recorded growth during the nine-month reporting period.
Total assets stood at ₦52.60 trillion as of September 30, 2026, representing a 1.7 per cent increase from ₦51.71 trillion at the end of December 2025.
Customer deposits increased by 6.6 per cent to ₦36.85 trillion, compared with ₦34.56 trillion at the end of 2025.
Loans and advances to customers also grew by 7.4 per cent to ₦14.33 trillion from ₦13.34 trillion.
Meanwhile, shareholders’ funds remained relatively stable at approximately ₦4.49 trillion.
The increase in customer deposits and lending reflects continued growth in the group’s banking operations, although the quality of lending and management of credit risks will remain important considerations as the business expands.
What the Third-Quarter Results Reveal
Although the headline profit figures cover the first nine months of 2026, the third-quarter performance provides additional insight into the group’s earnings trajectory.
Figures analysed by Proshare show that Access Holdings recorded a standalone third-quarter profit before tax of ₦253.23 billion, compared with ₦166.32 billion in the corresponding quarter of 2025.
Third-quarter profit after tax stood at approximately ₦207.45 billion.
This indicates that the group recorded a stronger contribution to its nine-month earnings during the third quarter, although its overall nine-month performance remains the more appropriate measure for assessing the cumulative results.
The distinction is important because the ₦474.17 billion profit after tax reported in the headline figure represents the entire January-to-September period, not the third quarter alone.
Why Access Holdings’ Results Matter
Access Holdings is one of Nigeria’s major financial services groups, with banking operations extending beyond its domestic market into other international markets.
Its financial performance therefore provides an indication of developments within Nigeria’s banking sector and the wider African financial services industry.
The latest results point to a combination of improved profitability, lower impairment charges and increased fee income.
However, the growth in operating expenses and decline in other operating income demonstrate that stronger profits do not necessarily mean all areas of the business are improving at the same pace.
For shareholders and investors, the figures raise important considerations about the sustainability of earnings growth, credit risk management, operating efficiency and the group’s ability to generate returns from its expanding balance sheet.
The reduction in impairment charges is particularly significant, but maintaining that improvement will depend on the quality of the group’s loan portfolio and its ability to manage potential credit losses.
Management’s Focus on Sustainable Growth
Access Holdings’ management has continued to emphasise its Scale-to-Value agenda, which focuses on improving operational efficiency, strengthening risk governance, disciplined capital allocation and increasing the productivity of existing business operations.
The group’s strategy reflects a shift towards extracting greater value from its established banking infrastructure rather than relying exclusively on geographical expansion and business growth.
The nine-month results provide evidence of progress in some areas, particularly the reduction in impairment charges and growth in net fee and commission income.
Nevertheless, the increase in operating expenses indicates that management will need to improve cost efficiency to translate revenue growth into stronger profitability.
What Happens Next?
Attention will turn to Access Holdings’ full-year 2026 financial performance and whether the improvements recorded during the first nine months can be sustained through the final quarter.
Investors will also be watching how the group manages operating expenses, credit risks and income diversification as it pursues its Scale-to-Value strategy.
The full-year results should provide a clearer picture of whether the group’s improved earnings quality can translate into stronger annual profitability and sustainable shareholder returns.
For now, Access Holdings’ ₦474.17 billion profit after tax represents a positive year-on-year development, although the financial results also highlight areas requiring continued management attention.
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Sources
- Access Holdings Plc – Official Q3 2026 Unaudited Financial Results. Access Holdings Financial Releases.
- Proshare – Lower Impairments and Higher Fees Lift Access Holdings 9M 2026 Profit Before Tax to ₦667.4bn. Read Proshare’s financial analysis.
- Punch Newspapers – Access Holdings Posts N474bn Q3 Profit. Read Punch’s report.
- Nairametrics – Access Holdings’ Profit Before Tax Rises 8.3% to ₦667.4 Billion in 9M 2026. Read Nairametrics’ report.
