Access Holdings Records 88% Growth in Gross Earnings to N4.878 Trillion
Lagos, Nigeria – April 16, 2025: Access Holdings PLC (“the Group”) (Bloomberg: ACCESSCO), a leading African financial services group, today, announced its audited financial results for the full year ended December 31, 2024.
The Group delivered 88% year-on-year growth in gross earnings, rising from N2.594 trillion in 2023 to
N4.878 trillion in 2024. The strong performance was
driven by diversified income streams, with interest income
growing by 110% to N3.480 trillion and non-interest
income increasing by 47.8%
to N1.397 trillion, supported by robust retail banking activities, digital
expansion, and a dynamic trading strategy.
Profit before tax (PBT) increased by 19%
to N867.0 billion, while profit after tax (PAT) rose to N642.2 billion, despite
inflationary and macroeconomic challenges. Total assets grew by 55.5% to
N41.498 trillion, and customer deposits rose by 47% to N22.525 trillion.
Shareholders’ funds also increased by 72%, reaching N3.760 trillion.
In 2024, the Group made
significant social and environmental impact across the continent, touching
millions of lives and earning multiple industry accolades. Through various
corporate social investment initiatives in education, entrepreneurship, health,
and the environment, the Group reached over 21 million individuals across Africa. Its employee
wellness programmes also covered 28,000 staff across operating entities. Access
Bank, the flagship subsidiary, through
its W-Initiative, disbursed loans to over a million women-led SMEs, advancing
financial inclusion and gender empowerment.
The Group’s efforts
attracted prestigious recognition and awards, including three Euromoney
Awards for Excellence (notably ‘Best Bank for ESG’); International
Finance Award for ‘Most Innovative Bank for Community Development and
Community Engagement’; and World Economic Magazine Award for ‘Most
Sustainable Bank’.
In terms of economic
sustainability, Access Bank recorded strong strides through its Economic,
Social and Governance (ESG) programmes. It facilitated $437.42 million in DFI
inflows to support MSMEs across Africa, disbursed 1.6 million digital loans to
low-income individuals, and booked its first N1.4 billion diaspora mortgage
loan.
The Group also achieved a
13.4% reduction in operational emissions, planted 57,302 trees, and enabled
solar power adoption for 226 homes and businesses. Its headquarters was awarded
the IFC EDGE (Excellence in Design for Greater Efficiencies) Green Building
Certification for sustainable design and construction
standards.
In addition, Access
employees contributed 228,500 volunteer hours to various community development
programmes, reinforcing the Group’s commitment to inclusive and purpose-driven
impact.
The Group is focused on delivering sustainable returns to
shareholders, while reinvesting in innovation, infrastructure, and cross-border
expansion. Its banking subsidiary launched operations in Hong Kong, received regulatory approval in Malta, and successfully integrated its operations in Zambia and Tanzania, expanding its global footprint.
Access Bank posted
significant gains across all performance metrics, with interest income growing
by 110% and fees and commissions rising by 81%. International subsidiaries
contributed 48.5% to the banking segment’s PBT, demonstrating strong execution
across key markets.
In 2024, Access Holdings
also became the first institution to
meet the Central Bank of Nigeria’s recapitalisation directive, raising ₦351 billion through a rights
issue. The proceeds are being strategically deployed to strengthen digital
infrastructure, enhance liquidity, and fuel long-term growth.
Looking ahead, Access Holdings remains
committed to building a more inclusive, sustainable, and profitable future, delivering value not just to
shareholders, but to society and the environment at large.
###
About Access Holdings
Access Holdings Plc (‘the
Company’) operates through a network of more than 700 branches and service
outlets, spanning three continents, 23 countries and over 60 million customers.
The Company serves its various markets through four subsidiaries across the
banking, payment, pension administration and insurance sectors through four
operating companies, viz: Access Bank Plc, Hydrogen Payment Services Company
Limited, Access Pensions Limited, and Access Insurance Brokers Limited.
Access Bank Plc serves its
various markets through four business segments - Retail Business, Commercial
and Corporate, and has enjoyed what is Africa’s most successful banking growth
trajectory in the last twenty years. Following its merger with Diamond Bank in
March 2019, Access Bank Plc became one of Africa’s largest retail banks by
customer base and the Nigeria's largest bank by total assets.
Hydrogen
Payment Services Company Limited, the payment company, leverages the strong suite of
the Bank’s existing assets and customer base, creating a super fintech that
will be Africa’s most powerful business services network. Hydrogen being a
company of African heritage has a clear understanding of the unique payment
challenges across the continent and is positioned to address these challenges
with its offerings. Its range of products and services, such as InstantPay,
Payment gateway, POS services, Card and Switch processing are gaining traction
in the marketplace and addressing the unique needs of customers.
Access ARM Pensions Limited, formerly
Access Pensions Limited, is one of Nigeria’s largest Pension Funds
Administrator (‘PFA’) by customer base and Assets Under Management, with nearly
₦3 trillion in assets under management and serving over two million Retirement
Savings Account holders.
Access ARM
Pensions Limited is the product of separate entities. The erstwhile Access
Pensions Limited first became a subsidiary of Access Holdings following
the acquisitions of the former First Guarantee Pension Limited and Sigma
Pensions Limited and their subsequent merger. Subsequently, Access Pensions
Limited merged with ARM Pensions Managers Limited to then form Access ARM
Pensions Limited. As one of Nigeria’s leading PFAs, Access ARM Pensions Limited
will leverage key relationships and Access’ growing ecosystem across Africa to
unlock greater opportunities for customers.
Access Insurance Brokers Limited is a company
licensed by the National Insurance Commission that provides intelligent
solutions that mitigate the unique risks faced by individuals and businesses in
an ever-changing world using leading risk management tools and governance
standards.
Access
Holdings Plc strives to invest in businesses that are committed to sustainable
practices and have a positive impact on the environment.
Investor Relations Contact Information
·
Webpage: https://theaccesscorporation.com/investor-relations/
·
E-Mail: Investor.Relations@theaccesscorporation.com
For
media inquiries, please contact:
·
Olakunle Aderinokun
Head, Media
and Public Relations
Access
Holdings Plc
+2348033204315
No comments