By Our Reporter
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Access Holdings Plc has reported a 13.8 per cent growth in gross earnings to ₦2.5tn for the half-year ended June 30, 2025, compared to ₦2.2tn recorded in the corresponding period of 2024.
The Group’s audited financial statement released on Thursday showed that the performance was driven largely by a rise in interest income, which jumped by 38.9 per cent year-on-year to ₦2tn from ₦1.5tn in H1 2024.
Net interest income soared by 91.8 per cent to ₦984.6bn, up from ₦513.4bn in the same period last year, while net fees and commission income rose by 16.1 per cent to ₦237.7bn, from ₦204.7bn in 2024.
As a result, profit before tax closed at ₦320.6bn, while profit after tax stood at ₦215.9bn.
Total assets rose to ₦42.4tn during the period, customer deposits grew to ₦22.9tn, loans and advances reached ₦13.2tn, while shareholders’ funds increased to ₦3.8tn.
The Group said the performance reflected resilience and progress in executing its five-year strategic growth plan.
The banking arm of the Group recorded interest income of ₦2tn, representing a 38.7 per cent increase from ₦1.5tn in H1 2024. Net interest income also grew by 85 per cent to ₦992.7bn, from ₦536.7bn in the previous year.
Fee and commission income rose by 27 per cent to ₦294.9bn, driven by increased transaction volumes, while profit before tax and profit after tax closed at ₦303bn and ₦199.3bn respectively.
Subsidiaries within the banking group contributed 65 per cent of the profit before tax, a development the company said highlights its push for sustainable performance across African and international markets.
Access ARM Pensions recorded a 29.9 per cent rise in revenue to ₦21bn, while profit before tax climbed by 65.1 per cent to ₦13.1bn, supported by strong efficiency and a return on average equity of 48.1 per cent.
Hydrogen Payments grew its revenue by 40.5 per cent, and profit before tax by 273 per cent year-on-year. Total transaction value processed rose 211 per cent to ₦41.1tn in H1 2025.
Access Insurance Brokers reported a 125 per cent growth in gross written premium and a 161 per cent rise in profit before tax.
Oxygen X, the Group’s digital lending arm, delivered ₦5.4bn in revenue and ₦2.2bn profit before tax in the period under review.
The Group said it will continue to drive digital expansion, revenue diversification, and disciplined cost and risk management.
“Access Holdings remains confident that it will continue to deliver sustainable value to shareholders as it builds a more agile Group that fosters innovation-driven growth and inclusive value creation,” the company said.
The statement was signed by Sunday Ekwochi, Company Secretary.