Access Holdings posts N667.36bn pre-tax profit after nine months

Access Holdings Plc recorded a pre-tax profit of N667.36 billion for the nine months ended September 2026, up 8.29% from N616.25 billion in the same period of 2025. The group filed its results with the Nigerian Exchange Limited on Monday, November 2, 2026.

A sharp drop in impairment charges and stronger fee income carried the bottom line, even as funding and operating costs climbed.

Impairment charges fall 73.45%

The biggest support to earnings was a 73.45% fall in impairment charges, which dropped to N92.91 billion from N349.99 billion a year earlier. That reduction saved the group N257.08 billion and gave considerable cover to profitability.

Interest income grew 6.91% to N3.10 trillion, but interest expenses rose faster, up 10.09% to N1.81 trillion. Net interest income therefore grew only 2.74% to N1.29 trillion.

The cost of funds was the pressure point. Interest earned on customer loans rose to N1.54 trillion from N1.38 trillion, while interest paid on deposits jumped to N1.25 trillion from N805.62 billion.

Non-interest income helped. Fee and commission income grew 8.40% to N650.87 billion. With related expenses falling to N115.93 billion from N124.49 billion, net fee income rose 12.40% to N534.94 billion.

Quarterly profit falls 14.35% year on year

On a quarter-on-quarter basis, Q3 2026 pre-tax profit climbed 78.43% to N253.23 billion from N141.92 billion in Q2. But the figure fell 14.35% against the N295.68 billion posted in Q3 2025.

Profit after tax recovered strongly, rising 313.41% quarter-on-quarter to N207.45 billion. It was still 10.44% below the N231.63 billion recorded a year earlier.

Operating expenses continued to rise. Personnel costs went up 20.51% to N432.12 billion, while other operating expenses climbed 6.03% to N757.26 billion.

Basic earnings per share edged up 0.25% to N8.02 from N8.00, showing that the stronger headline profit delivered limited growth at the per-share level.

Balance sheet and what it means

Total assets grew 0.78% to N52.60 trillion. Debt securities and interest-bearing borrowings fell 37.44% to N2.05 trillion, while cash and cash equivalents declined 27.54% to N6.53 trillion.

The numbers mirror the pressure across the banking sector. The cost of deposits is rising faster than income from loans, and personnel bills are climbing, so lenders are leaning on fee income and lower credit losses to hold profit growth.

For Nigerian businesses, the sharp fall in impairment charges suggests a better loan book, but the jump in deposit costs points to tighter pricing on credit. For the naira, a bank of this size posting a stronger nine-month profit supports confidence in the financial system.

The result comes after Guaranty Trust Holding Company Plc posted a pre-tax profit of N879.9 billion for the nine months ended September 30, 2026, a 2.3% decline from N900.8 billion a year earlier. GTCO's interest income, fees and commission income, and trading income rose 5.0%, 1.4% and 3.1% respectively, but a fair value loss of N87.9 billion weighed on the group.