Access Holdings Nigeria Reports FY2024 Gross Earnings of NGN 4.88 Trillion, Up 88%, as Assets Cross NGN 41 Trillion

Access Holdings, the parent company of Access Bank, reported full-year 2024 gross earnings of NGN 4.88 trillion, an 88% increase year on year, with profit before tax of NGN 867 billion and profit after tax of NGN 642.2 billion. The results were published on 16 April 2025.

Total assets grew 55.5% to NGN 41.5 trillion. Customer deposits expanded 47% to NGN 22.5 trillion.

INTEREST AND NON-INTEREST INCOME

Interest income rose about 110% to NGN 3.48 trillion and net interest income rose about 82% to NGN 1.27 trillion as the group benefited from higher Nigerian interest rates. Non-interest income grew 47.8% to NGN 1.4 trillion.

International subsidiaries contributed 48.5% of the banking segment's profit before tax.

CAPITAL RAISE COMPLETED UNDER CBN RECAPITALISATION

Access Holdings raised NGN 351 billion through a rights issue in 2024 under the Central Bank of Nigeria's banking recapitalisation programme, lifting its share capital and premium to about NGN 595 billion; it was reported as the first institution to meet the CBN's new minimum capital requirement.