Amid ₦1trn revenue, Access maintains silence on final dividend payout

The 2025 financial results for Access Holdings Plc have established a new benchmark characterized by a historic leap in profitability crossing the N1trn profit-before-tax threshold for the first time.

According to the results released last week, the Group successfully navigated a complex macroeconomic landscape to deliver a record performance that signals a transition from aggressive asset acquisition to disciplined value optimization.

Revenue and profitability performance

The Group’s financial engine delivered unprecedented results, anchored by a 16.2% increase in Profit Before Tax, which officially crossed the trillion-naira mark to settle at ₦1.01 trillion.

This milestone was supported by a massive surge in gross earnings, which reached ₦5.53 trillion.

A significant driver of this growth was the non-interest income segment, where fees and commissions rose by 40.9% to ₦585.1 billion, demonstrating the successful monetization of the Group’s digital and payment ecosystems.

Operational efficiency and ROE ratio

Notably, the Group’s ability to moderate its spending while scaling its earnings stood out. The cost-to-income ratio saw a notable improvement, dropping to 51.7% from 56.7% in the previous year.

This lean operational approach contributed to a healthy Return on Average Equity (ROAE) of 18.4%, proving that the management team is effectively generating value from shareholders’ capital despite the costs associated with its pan-African footprint.

Asset quality and NPL ratio

Despite the rapid expansion of its loan book, Access Holdings maintained a high standard of credit discipline. The Non-Performing Loan (NPL) Ratio** was kept stable at 2.8% comfortably remaining within regulatory limits.

This stability highlights a robust risk management framework and a focus on high-quality corporate and retail lending, ensuring that the growth in interest income was not undermined by a deterioration in asset quality.

Dividend

While the figures suggest a position of immense strength, the report notably omitted a definitive declaration regarding a final dividend payment for the 2025 financial year. Although Earnings Per Share reached 1,348 Kobo and Profit After Tax stood at ₦743 billion, the management commentary focused on strategic transitions and capital preservation.

With a Liquidity Ratio of 52.3% and a Capital Adequacy Ratio of 19.1%, the Group remains well-capitalized, yet the silence on immediate cash returns suggests a cautious approach to liquidity management as the bank prepares for the next phase of its institutional evolution.

Outlook

Looking ahead of 2026 and beyond, Access Holdings is entering a deliberate optimization phase of its five-year strategic plan. Management expects a more stable macroeconomic environment to facilitate credit expansion and higher transaction volumes across its diversified platform.

The Group’s primary focus will shift from aggressive geographic expansion to deepening cost discipline, enhancing earnings quality, and improving capital productivity. By leveraging data and technology to reduce transaction costs and expanding capital-light revenue streams, the institution aims to cement its position as a global financial gateway while ensuring consistent, high-quality returns for its stakeholders through 2027.