Access Holdings posts ₦667.36bn nine-month profit as Q3 rebounds

Access Holdings Plc made a pre-tax profit of ₦667.36 billion in the nine months to September 2026, up 8.29% from ₦616.25 billion in the same period last year, according to the results the group released on November 2, 2026.

Profit after tax rose 5.95% to ₦474.17 billion from ₦447.55 billion, while basic earnings per share edged up to ₦8.02 from ₦8.00.

The results were published alongside the group's delayed half-year figures. The half-year report had been held back pending approvals from the Central Bank of Nigeria (CBN), the country's banking regulator.

A rebound, but below last year's level

Third-quarter pre-tax profit came in at ₦253.23 billion, up 78.43% from ₦141.92 billion in the second quarter. Profit after tax for the quarter rose to ₦207.45 billion from ₦50.18 billion.

That recovery still leaves the group below where it was a year ago. Third-quarter pre-tax profit was down 14.35% from ₦295.68 billion in the same quarter of 2025, and after-tax profit fell 10.44% from ₦231.63 billion.

The biggest support to earnings was a sharp fall in impairment charges, the money set aside for loans that may not be repaid. These fell 73.45% to ₦92.91 billion from ₦349.99 billion, saving the group about ₦257.08 billion.

Fee and commission income also helped, rising 8.40% to ₦650.87 billion, with net fee income up 12.40% to ₦534.94 billion.

But the cost of funding ate into the gains. Interest income grew 6.91% to ₦3.10 trillion, while interest expenses rose faster, by 10.09%, to ₦1.81 trillion. Interest paid on customer deposits climbed to ₦1.25 trillion from ₦805.62 billion.

As a result, net interest income grew by just 2.74% to ₦1.29 trillion. Personnel costs rose 20.51% to ₦432.12 billion, and other operating expenses were up 6.03% to ₦757.26 billion.

Total assets stood at ₦52.60 trillion, while customer deposits rose 6.6% to ₦36.85 trillion and loans to customers grew 7.4% to ₦14.33 trillion.

Innocent Ike, the group's managing director and chief executive officer, said the fall in impairment charges and growth in net interest income after impairment showed the resilience of the group's core earnings. He said the group would keep focus on risk governance, regulatory compliance and operating efficiency.

The banking business produced 96% of the group's pre-tax profit, and operations outside Nigeria generated 82.2% of the banking group's pre-tax profit.

The board did not propose an interim dividend, according to the half-year directors' report. Access Holdings shares were flat at ₦28.60 in early trading on November 2, 2026.

What happens next

Investors will watch whether the group can hold the third-quarter recovery through the final quarter of the year, especially as funding costs continue to rise. The absence of an interim dividend means shareholders will look to the full-year results for any payout decision.