Access Holdings Plc revealed an audited financial report with pre-tax profit set at ₦867.019 billion in 2024, a jump from the prior year’s 2023 profit of ₦729.001 billion, marking a 19% increase. Additionally, the group’s gross earnings increased by 88% year on year, hitting ₦4.878 trillion, up from ₦2.594 trillion. This was attributed to diversification and strategic expansion pushes.
Modest Profit after Tax (PAT) increased by 3.7%, hitting ₦642.22 billion, while the firm suggested a final dividend of ₦2.05 per share, bringing the total declared for FY to ₦2.50 per share.
The growth was supported by a 110% increase in interest income to ₦3.480 trillion and a 47.8% increase in non-interest income,, which sits at ₦1.397 trillion, attributed to digital changes, strong retail operations, and bull trading agility. Customer deposits rose 47% to ₦22.525 trillion alongside total assets growing by 55.5%, hitting ₦41.498 trillion. These macros led to shareholders’ funds climbing over 72% to ₦3.760 trillion.
Access Holdings became the first Nigerian company to meet the recapitalization set by the Central Bank after reaching ₦351 billion through a rights issue targeting digital infrastructure and liquidity, leading to their international subsidiaries contributing 48.5% pre-tax profit.
After the recent grant of regulatory approval to Malta and active operations in Hong Kong, alongside integrating with Zambian and Tanzanian subsidiaries, the firm becomes borderless, focusing on innovation and cross-border operations, and subsidiary spreading further allows them to broaden their operational footprint.
The CEO had earlier said, “We are poised to drive inclusive growth, delivering value to shareholders while making a positive Environmental and Social Governance (ESG) impact.”
These results highlight Access Holdings’ ability to withstand and strategically maneuver through economic constraints while simultaneously broadening its presence internationally.
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