Access Holdings Profit Grows by 14.7% in Q1-2025
Nigeria’s largest lender by total assets, Access Holdings Plc, profit after tax increased by 14.7% year on year in the first quarter of financial year 2025, details from the group’s unaudited results revealed.
Details obtained from its unaudited financial statement showed that profit after tax settled at N182.75 billion in Q1 as against N159.29 billion recorded in the first quarter of 2024. Net interest income slumped by 10% year on year to N220.206 billion in Q1 as against N275.719 billion in the comparable period in 2024.
Following a year-on-year moderation in the group impairment charged, Access Holdings reported that net interest income after impairment charged reduced by 21.54% to N198.436 billion from N252.925 billion in Q1-2024.
The reduced income from the group’s interest-earning assets was well compensated for as non-interest income surged significantly in the same period. Access Holdings reported 68.4% year-on-year growth in net fees and commission income in Q1-2025, settling at N146.224 billion from N86.856 billion in the equivalent period in 2024.
Despite a spike in operating expenses, pretax profit increased to N222.782 billion in the first quarter of 2025, up by 9.88% year on year from N202.738 billion in Q1-2024.
Lower tax expenses in Q1-2025, however, strengthened the bottom line. Details from the financial services company results showed that profit after rose by 20.77% to N182.753 billion from N159.282 billion in Q1-2024. #Access Holdings Profit Grows by 14.7% in Q1-2025 Naira Appreciates as CBN Sells Additional Dollars in FX Market
