Access Holdings Plc has published its audited half-year (H1) financial results for the period ended June 30, 2025, showing a solid top-line performance but a decline in profitability compared to the previous year.
According to the results released on the Nigerian Exchange Limited (NGX), the Group reported a profit before tax (PBT) of ₦320.57 billion in H1 2025, representing an 8.1% decline from ₦348.92 billion recorded in H1 2024. Similarly, profit after tax (PAT) fell by 23.3% to ₦215.92 billion, down from ₦281.33 billion in the same period last year.
Despite the drop in profit, Access Holdings recorded a 13.8% year-on-year growth in gross earnings, which rose to ₦2.5 trillion in H1 2025 from ₦2.2 trillion in H1 2024. This increase was largely driven by a surge in interest income, which grew by 38.9% to ₦2 trillion during the review period.
The Group’s return on average equity (ROAE) declined sharply from 22.4% in H1 2024 to 11.4% in H1 2025, reflecting a more challenging operating environment.
However, net interest income almost doubled, rising by 91.8% to ₦984.6 billion, compared to ₦513.4 billion a year earlier. Likewise, net fees and commission income climbed 16.1% year-on-year to ₦237.7 billion, driven by higher transaction volumes and improved customer engagement across digital channels.
Strong Balance Sheet and Subsidiary Performance
Access Holdings maintained a robust balance sheet in the first half of the year. Total assets stood at ₦42.4 trillion, customer deposits at ₦22.9 trillion, loans and advances at ₦13.2 trillion, and shareholders’ equity at ₦3.8 trillion, underscoring the Group’s financial strength and resilience.
Across its subsidiaries, the Group demonstrated notable progress in executing its growth strategy. Banking operations accounted for 65% of Group profit before tax, reflecting sustained performance across African and international markets.
Non-banking subsidiaries also delivered impressive results:
- Access – ARM Pensions recorded a 29.9% increase in revenue to ₦21 billion, while PBT rose 65.1% to ₦13.1 billion. The pension business posted a remarkable 48.1% ROAE and maintained a cost-to-income ratio of 35.1%, signaling strong operational efficiency.
- Hydrogen Payments, the Group’s payment subsidiary, saw a 40.5% jump in revenue and a 273% surge in profit before tax, processing ₦41.1 trillion in transactions—up 211% from ₦13.8 trillion in H1 2024.
- Access Insurance Brokers reported exceptional growth, with gross written premiums rising 125%, revenue up 146%, and PBT increasing by 161%.
- Oxygen X, the Group’s digital lending platform launched in Q3 2024, continued its upward trajectory, generating ₦5.4 billion in revenue and ₦2.2 billion in profit before tax during H1 2025.
A Resilient but Cautious Outlook
While Access Holdings faced margin pressures and a softer bottom line, the Group’s expanding income streams and diversified operations point to a steady path toward long-term sustainability.
Analysts note that the financial conglomerate’s strategic focus on digital innovation, regional expansion, and non-banking subsidiaries is helping cushion the impact of tighter monetary conditions and rising operational costs.
With its strong balance sheet and diversified earnings base, Access Holdings appears well-positioned to navigate the evolving economic landscape, even as management focuses on improving efficiency and returning to profit growth in the second half of 2025.