Non-payment Of Dividend Due to Regulatory Guidelines, Not Weak Results, Access Holdings Clarifies

Access Holdings Plc has reaffirmed its commitment to long-term shareholder value and sustainable returns, following a strong performance in the 2025 financial year, while providing clarity on the rationale for the nonpayment of dividends for the year ended December 31, 2025.

The clarification was provided during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed shareholder concerns regarding the absence of a dividend declaration despite the Group’s robust earnings growth and balance sheet expansion.

Access Holdings emphasised that the non-payment of dividends for the 2025 financial year was not performance-driven but reflected prudential regulatory alignment matters that required resolution before dividend payments could be effected.

Commenting on the matter, group managing director/chief executive officer, Access Holdings Plc, Innocent C. Ike, said: “Access Holdings has a strong history of consistent dividend payments, and rewarding shareholders remains a core priority for the Board and Management. The nonpayment of dividends for 2025 was not due to earnings weakness or cash flow constraints, but an alignment with regulatory and prudential guidelines.”

For the 2025 financial year, Access Holdings delivered resilient, diversified performance, underscoring its capacity to generate sustainable shareholder returns. Gross earnings grew by 13.3 per cent to N5.53 trillion, supported by strong growth in net interest income and a 40.9 per cent increase in fees and commissions to N585.07 billion. Profit before tax increased by 16.2 per cent to N1.01 trillion, crossing the N1 trillion mark for the first time in the Group’s history.

Total assets expanded by 24.2 per cent to N51.56 trillion, reflecting scale accretion and the successful integration of recently acquired subsidiaries. The Group’s cost-to-income ratio improved significantly from 56.7 per cent to 51.7 per cent, driven by disciplined cost management and operating leverage. Capital adequacy remained strong at 18.2 per cent at the holding company level, while the banking subsidiary ended the year with a capital adequacy ratio of 20.2 per cent.

“Our performance in 2025 demonstrates the strength of the franchise and its capacity to generate value for shareholders. Our focus is to ensure that shareholder distributions resume on a sustainable basis once all regulatory conditions are satisfied and the required approvals are obtained,” Ike added

Access Holdings explained that while dividends were recommended at both half-year and full-year in 2025, regulatory approvals were not obtained. At the halfyear stage, the constraint related to Section 7.1 of the CBN Guidelines for Financial Holding Companies, which has since been fully resolved following the successful completion of an approved private placement.

At fullyear, an additional matter arose under Section 19(8)(c) of BOFIA, which places limits on investments in foreign banking subsidiaries relative to shareholders’ funds.

The Group has been granted a twelvemonth window to fully remediate this position. The Group noted it will partially divest from some banking subsidiaries but will still retain its super majority shareholding.

According to Ike, maintaining the confidence of our regulators, depositors and stakeholders is fundamental to our operating philosophy. In line with our long-standing culture of prudence and sound governance, the Board remains committed to balance sheet strength and capital resilience, as the basis for sustainable shareholder distributions.”

The Group reassured stakeholders that it remains committed to engaging constructively with all relevant stakeholders to address the matters raised and achieve alignment with applicable requirements within the stipulated timeline. As discussions progress, the Group will continue to provide timely disclosures and transparent updates to the market and investors.

Access Holdings Plc is also strengthening its capital and liquidity buffers to support the sustainable resumption of dividend payments, subject to the fulfillment of the required conditions and approvals.

Reaffirming management’s confidence, Ike stated: “We remain actively engaged with the investment community and focused on resolving the matters raised within the prescribed timeline. Our priority remains delivering sustainable long-term value to shareholders through stronger execution, improved financial performance and disciplined growth. Subject to the successful conclusion of this process and the necessary approvals, our objective is to restore dividend payments on a sustainable basis.”

Concluding, Ike said: “Access Holdings is uniquely positioned to leverage its scale, geographic diversification and strong franchise to deliver resilient earnings growth, stronger returns and enhanced long-term shareholder value.”