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 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 Fund Administrators (‘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:
[email protected]
For media inquiries, please contact:
• Olakunle
Aderinokun
Head, Media and Public Relations
Access Holdings Plc
+2348033204315
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