Onome Amuge
Access Holdings Plc has reinforced its transformation into one of Africa’s most diversified financial services powerhouses, as its latest half-year results highlight a decisive shift from traditional banking toward a broader ecosystem anchored on digital payments, pensions, insurance, and consumer lending.
After a delayed release that capped the earnings season for Nigeria’s Tier-1 lenders, Access Holdings unveiled its audited half-year results for the period ended June 30, 2025, showing a 13.8 per cent rise in gross earnings to N2.5 trillion from N2.2 trillion a year earlier. The growth was fuelled by a 38.9 per cent jump in interest income to N2.0 trillion and stronger contributions from its non-banking subsidiaries
Net interest income almost doubled, climbing 91.8 per cent to N984.6 billion, while profit before tax (PBT) reached N320.6 billion and profit after tax (PAT) closed at N215.9 billion.
Total assets stood at N42.4 trillion, supported by N22.9 trillion in customer deposits and N13.2 trillion in loans and advances, while shareholders’ equity climbed to N3.8 trillion.
Beyond the headline figures, the results signal a turning point in Access Holdings’ transformation journey. Non-banking subsidiaries that once played a marginal role are now major contributors to growth and profitability.
Access–ARM Pensions, the group’s pensions subsidiary, posted revenue of N21.0 billion, up nearly 30 per cent year-on-year, with profit before tax rising 65.1 per cent to N13.1 billion. The business achieved a striking return on average equity (ROAE) of 48.1 per cent and maintained a cost-to-income ratio of 35.1 per cent.
Hydrogen Payments, Access’s payments processing arm, also delivered notable numbers, with revenue surging 40.5 per cent and profit before tax jumping 273 per cent year-on-year. Total transaction value soared to N41.1 trillion, up from N13.8 trillion in the first half of 2024.
Access Insurance Brokers continued its rapid ascent, reporting a 125 per cent increase in gross written premium and a 161 per cent jump in profit before tax, as more customers within the group’s ecosystem adopt its retail protection products. Meanwhile, Oxygen X, its digital lending platform launched less than a year ago, contributed N5.4 billion in revenue and N2.2 billion in profit before tax, proving the group’s ability to monetise data-driven, consumer-focused financial services.
The banking subsidiary remained a strong anchor, contributing N303.0 billion in profit before tax and N199.3 billion in profit after tax, about two-thirds of the group’s total PBT. Interest income grew by 38.7 per cent to N2.0 trillion, supported by loan growth and higher yields, while net interest income rose to N992.7 billion from N536.7 billion a year earlier.
Fee and commission income, a key measure of non-interest performance, increased by 27 per cent to N294.9 billion, buoyed by higher transaction volumes and expanding digital banking usage.
With shareholders’ equity at N3.8 trillion, Access Holdings remains one of the best-capitalised financial institutions in Africa. The group said it would maintain its disciplined portfolio management approach and uphold “strong risk and governance frameworks” to sustain profitability amid global uncertainty.
Looking ahead, Access plans to deepen its African footprint, leveraging synergies across subsidiaries to build what it describes as a financial services ecosystem for the future. The management emphasised continued focus on innovation, cost efficiency, and inclusive growth as it seeks to deliver long-term value for shareholders.
As it stands, the company’s evolution from a traditional bank into a diversified financial powerhouse, spanning banking, pensions, insurance, and digital payments, positions it uniquely among African peers. With non-banking units now accounting for a growing share of profit and revenue, Access Holdings appears to be charting a path toward becoming one of the continent’s first truly integrated financial services conglomerates.
