Access Holdings Grow Gross Earnings To N4.878trn

Access Holdings Plc has posted a gross earnings of N4.878 trillion in its audited financial results for the full year ended December 31, 2024.

The Group delivered 88 per cent year-on-year growth in gross earnings, rising from N2.594 trillion in 2023 to N4.878 trillion in 2024.

The strong performance was driven by diversified income streams, with interest income growing by 110 per cent to N3.480 trillion and non-interest income increasing by 47.8 per cent to N1.397 trillion, supported by robust retail banking activities, digital expansion, and a dynamic trading strategy.

Profit before tax increased by 19 per cent to N867.0 billion, while profit after tax rose to N642.2 billion, despite inflationary and macroeconomic challenges.

Total assets grew by 55.5 per cent to N41.498 trillion, and customer deposits rose by 47 per cent to N22.525 trillion. Shareholders’ funds also increased by 72 per cent, reaching N3.760 trillion.

Also, the Group proposed a final dividend of N2.05 per share to its shareholders for the year under review.

In terms of economic sustainability, Access Bank recorded strong strides through its Economic, Social and Governance (ESG) programmes. It facilitated $437.42 million in DFI inflows to support MSMEs across Africa, disbursed 1.6 million digital loans to low-income individuals, and booked its first N1.4 billion diaspora mortgage loan.

The Group also achieved a 13.4 per cent reduction in operational emissions, planted 57,302 trees, and enabled solar power adoption for 226 homes and businesses. Its headquarters was awarded the IFC EDGE (Excellence in Design for Greater Efficiencies) Green Building Certification for sustainable design and construction standards.

Access Holdings said, “the Group is focused on delivering sustainable returns to shareholders, while reinvesting in innovation, infrastructure, and cross-border expansion. Its banking subsidiary launched operations in Hong Kong, received regulatory approval in Malta, and successfully integrated its operations in Zambia and Tanzania, expanding its global footprint.”

It added that “Access Bank posted significant gains across all performance metrics, with interest income growing by 110 per cent and fees and commissions rising by 81 per cent.

International subsidiaries contributed 48.5 per cent to the banking segment’s PBT, demonstrating strong execution across key markets.

“In 2024, Access Holdings also became the first institution to meet the Central Bank of Nigeria’s recapitalisation directive, raising N351 billion through a rights issue. The proceeds are being strategically deployed to strengthen digital infrastructure, enhance liquidity, and fuel long-term growth.”