By Ayo Kehinde
Access Holdings Plc has posted strong financial results for the full year ended December 31, 2024, with gross earnings surging by 88% year-on-year to N4.878 trillion, up from N2.594 trillion in 2023.
The group’s audited financial statements, released on Wednesday, show that the performance was driven by its diversified business model, with interest income growing by 110% to N3.480 trillion, while non-interest income rose 47.8% to N1.397 trillion, boosted by digital expansion, retail banking, and strategic trading activities.
Profit Before Tax (PBT) stood at N867.0 billion, representing a 19% increase, while Profit After Tax (PAT) grew to N642.2 billion, despite macroeconomic headwinds and high inflation.
Total assets rose by 55.5% to N41.498 trillion, while customer deposits increased by 47% to N22.525 trillion. Shareholders’ funds also climbed by 72% to N3.760 trillion, reflecting strong investor confidence.
In addition to financial growth, the group reported notable social and environmental impact across the continent. Through its corporate social investment programmes in education, entrepreneurship, healthcare, and environmental sustainability, Access Holdings said it reached over 21 million people in 2024.
Access Bank, its flagship subsidiary, continued to promote gender inclusion through its W-Initiative, which disbursed loans to over one million women-led SMEs. The group also extended employee wellness programmes to 28,000 staff across its operating entities.
The group’s ESG efforts attracted industry recognition, including three Euromoney Awards for Excellence (notably “Best Bank for ESG”), the International Finance Award for “Most Innovative Bank for Community Development and Engagement,” and the World Economic Magazine Award for “Most Sustainable Bank.”
Under its economic sustainability programme, the group facilitated $437.42 million in Development Finance Institution (DFI) inflows to support MSMEs across Africa.
It also disbursed 1.6 million digital loans to low-income individuals and booked its first N1.4 billion diaspora mortgage loan.
Environmental milestones included a 13.4% reduction in operational emissions, the planting of 57,302 trees, and the provision of solar power to 226 homes and businesses.
The group’s headquarters earned the IFC EDGE Green Building Certification for sustainable design.
In 2024 alone, Access employees volunteered 228,500 hours for community initiatives, reflecting the group’s commitment to inclusive growth and shared prosperity.
The group also expanded its international presence, launching operations in Hong Kong, gaining regulatory approval in Malta, and integrating operations in Zambia and Tanzania. Its international subsidiaries contributed 48.5% to the banking segment’s PBT, highlighting strong performance across key markets.
Notably, Access Holdings became the first financial institution to meet the Central Bank of Nigeria’s recapitalisation mandate, raising N351 billion via a rights issue. The proceeds are being deployed to strengthen digital infrastructure, enhance liquidity, and support long-term growth.
Reaffirming its focus on innovation, sustainability, and shareholder value, Access Holdings said it remains committed to building a more inclusive and impactful future across Africa and beyond.
