Access Holdings PLC opened 2026 with mixed results for the quarter ended March 31.
The group grew pre-tax profit by 22.19% to ₦272.210 billion, supported by strong non-interest income.
However, pressure emerged in core banking operations due to weaker lending and investment income.
Access Holdings Revenue Pressure In Core Banking
Interest income fell 8.73% to ₦895.034 billion as loan earnings weakened across portfolios.
Loans and advances income dropped sharply by 27% to ₦429 billion, while investment securities income declined significantly by 59% to ₦67 billion.
Interest expenses rose slightly by 1.91% to ₦556.172 billion.
However, customer deposit costs fell to ₦388 billion from ₦447 billion.
Deposits also increased by ₦392 billion to ₦34.954 trillion, strengthening liquidity.
FX Gains Drive Non-Interest Growth
Net interest income after impairment rose 33.57% to ₦262.052 billion.
Non-interest income increased 19.03% to ₦444.683 billion, strengthening revenue diversification.
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Foreign exchange gains contributed about ₦176 billion from unhedged currency positions.
Total income reached ₦709.735 billion.
Rising Costs Weigh On Profit
Operating expenses rose 26.16% to ₦411.268 billion, increasing cost pressure.
About 62% of total income went to operating costs.
Impairment charges surged 239.04% to ₦73.810 billion.
Profit after tax fell 22.77% to ₦146.623 billion, while earnings per share dropped 24.49% to ₦3.69.
Total assets grew about 4%, supported by customer deposits, which now account for over 65% of assets.
Investment securities rose 3.11%, while loans and advances grew 1.55%.
Shareholders’ funds increased to ₦4.397 trillion, supported by retained earnings of ₦1.997 trillion.
Share capital rose to ₦616.021 billion, meeting regulatory requirements.
Access Holdings shares closed April 2026 at ₦27, up from ₦21 at the start of the year, representing a 28.6% year-to-date gain and a recovery from last year’s decline.
