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Tag: Access Insurance Brokers

  • Access Holdings Affirms Long-Term Value Strategy at 4th Annual General Meeting

    Access Holdings Affirms Long-Term Value Strategy at 4th Annual General Meeting

    Access Holdings Plc (Access Holdings) today held its 4th Annual General Meeting (AGM), reaffirming its strategic transition towards long-term value creation, balance sheet resilience, and disciplined growth, even as it navigates a dynamic and evolving operating environment.

    Speaking at the AGM, the Chairman, Aigboje Aig-Imoukhuede, CFR, emphasised that the defining test of a financial institution is not merely its capacity for growth, but its ability to grow profitably, sustainably, and with discipline over time.

    He noted that Access Holdings’ performance in 2025 reflects a deliberate approach to strengthening the institution’s long-term fundamentals while maintaining strong financial performance.

    The Group delivered Profit Before Tax of ₦1.007 trillion, underscoring the strength of its diversified platform and expanding earnings base across key markets. Total assets increased to ₦51.56 trillion, while customer deposits grew strongly, reflecting sustained franchise momentum and deepening customer trust.

    The Chairman, however, stressed that these results must be viewed within the context of the Group’s prudent risk management actions during the year. Access Holdings accelerated provisions on legacy and regulatory forbearance credit exposures, resulting in elevated impairment charges. He explained that the Group consciously prioritised balance sheet strength and long-term resilience over short-term earnings optimisation.

    “Periods of economic uncertainty often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing, but improving in the quality, resilience, and sustainability of its earnings,” he stated.

    The AGM highlighted the Group’s continued evolution beyond traditional banking into a diversified financial services ecosystem, with growing contributions from investment management, insurance, pensions, consumer finance, and payments.

    While banking remains the Group’s core earnings engine, emerging growth platforms, including Access ARM Pensions, Access Insurance Brokers, Oxygen X Finance, and Hydrogen Payments, are expanding its footprint across digital finance, consumer lending, retirement services, and payments, thereby strengthening the Group’s long-term earnings mix and scalability.

    Looking ahead, the Chairman reiterated the strategic imperative underpinning the Group’s next phase of growth:

    “Our strategy, From Scale to Value, reflects the natural evolution of our journey. Scale created opportunity; value creation is how we fully realise it.”

    He noted that while the Group continues to generate strong returns, ensuring that earnings per share consistently exceed the cost of capital remains central to unlocking sustainable shareholder value. He also acknowledged the significant unrealised value embedded within the Group’s international subsidiaries and reiterated management’s focus on improving market recognition of that intrinsic value over time.

    The Board also addressed shareholders’ concerns regarding dividend payments, clarifying that the temporary suspension of dividend distributions was due to regulatory requirements rather than any deterioration in the Group’s financial performance.

    Aig-Imoukhuede reaffirmed that the Group’s earnings capacity remains strong and that the Board’s position reflects adherence to supervisory expectations and prudent capital management principles. He assured shareholders of the Board’s commitment to resuming dividend payments as soon as the relevant regulatory conditions are satisfied.

    “Our approach is clear: capital retained today must translate into greater value tomorrow and sustainable returns for our shareholders.”

    Access Holdings further highlighted progress in strengthening governance and leadership continuity. During the year, Innocent C. Ike was appointed Group Managing Director/Chief Executive Officer, while the Board was reinforced through the appointment of Ibironke Adeyemi as an Independent Non-Executive Director.

    Shareholders also expressed appreciation for the outstanding contributions of Bolaji Agbede, Executive Director, Business Development, who successfully led the management team as Acting Group Chief Executive Officer prior to the appointment of Mr. Ike.

    The Chairman noted that the leadership transition was executed seamlessly, ensuring continuity of strategy, operational stability, and stakeholder confidence.

    Despite continuing macroeconomic uncertainties across its operating markets, Access Holdings expressed confidence in its strategic positioning, underpinned by disciplined execution, a diversified business model, a strengthened capital base, and a clear focus on sustainable value creation.

    Concluding his remarks, Aig-Imoukhuede reaffirmed the Group’s long-term commitment to shareholders: “Our responsibility is to justify the confidence of our shareholders by building an institution that endures, one defined by clarity of purpose, discipline of execution, and sustainable value creation over time.”

  • Access Holdings Delivers ₦320.6 Billion Profit Before Tax in H1 2025

    Access Holdings Delivers ₦320.6 Billion Profit Before Tax in H1 2025

    Access Holdings Plc has delivered a profit before tax (PBT) of ₦320.6 billion for the half year ended June 30, 2025, a demonstration of its strategy, diversified growth model, and execution.

    Profit after tax (PAT) stood at ₦215.9 billion, underscoring the Group’s ability to generate sustainable returns amid a challenging macroeconomic environment consistently.

    Access Holdings recorded gross earnings of ₦2.5 trillion, a 13.8% increase from ₦2.2 trillion in H1 2024, supported by robust growth in interest income, which rose by 38.9% year-on-year to ₦2.0 trillion. Net interest income almost doubled, up 91.8% to ₦984.6 billion, while net fees and commission income grew 16.1% to ₦237.7 billion.

    This performance reflects the Group’s deliberate diversification strategy, balancing growth across banking and non-banking subsidiaries, to ensure sustainable profitability and superior shareholder value.

    The Banking Group continued to drive performance, reporting a PBT of ₦303.0 billion and PAT of ₦199.3 billion. Interest income grew by 38.7% to ₦2.0 trillion, and net interest income surged 85% to ₦992.7 billion. Fee and commission income climbed 27% to ₦294.9 billion, propelled by higher transaction volumes across digital and retail channels.

    Banking subsidiaries contributed 65% of total PBT, reflecting the Group’s strong footprint across Africa and its proven ability to convert scale into value.

    Access Holdings’ non-banking subsidiaries continued to validate the Group’s diversified investment thesis.


    Access ARM Pensions posted a 65.1% year-on-year growth in PBT to ₦13.1 billion, with ROAE at 48.1% and a PBT margin of 62.5%.

    Hydrogen Payments delivered a 273% surge in PBT, processing ₦41.1 trillion in transactions, more than triple the value recorded in H1 2024.

    Access Insurance Brokers achieved a 161% increase in PBT, reflecting its expanding market presence and profitability.
    Oxygen X, the Group’s digital lending platform, posted ₦2.2 billion in PBT on ₦5.4 billion in revenue, sustaining strong momentum since launch.

    Access Holdings closed the half year with total assets of ₦42.4 trillion, customer deposits of ₦22.9 trillion, loans and advances of ₦13.2 trillion, and shareholders’ equity of ₦3.8 trillion, demonstrating a resilient balance sheet.

    Access Holdings remains focused on disciplined growth, operational efficiency, and transformation. As it executes its five-year strategic plan, the company continues strengthening its position as one of  Africa’s most diversified financial services groups, creating sustainable value for shareholders while driving inclusive economic impact.

  • Access Holdings’ Total Assets Grows to ₦41.1 Trillion in Q3

    Access Holdings’ Total Assets Grows to ₦41.1 Trillion in Q3

    Access Holdings Plc, one of Africa’s leading financial institutions, has announced its unaudited results for the third quarter ended September 30, 2024. The financial results highlight the group’s continued growth momentum, emphasising resilience and sustainable performance as the Group works to deliver solid returns for its shareholders.

    Gross revenue for the nine-month period rose by 114.5% year-on-year, climbing from ₦1.6 trillion in 2023 to ₦3.4 trillion in 2024. Interest income, a major driver of this growth, represented 70% of gross revenue at ₦2.4 trillion, while non-interest income contributed ₦1.0 trillion, marking an 87.2% increase due to higher transaction volumes on digital channels and other alternative platforms. Despite inflationary pressures, the cost-to-income ratio remained stable at 60.8%, while profit before tax saw an 89.6% rise to ₦558.2 billion, and profit after tax rose 82.8% to ₦457.7 billion. This robust performance translated to an annualised return on equity of 22.2%, with earnings per share up to ₦12.40.

    Access Holdings reported significant gains in Q3 2024, driven by strong performance across its banking and non-banking subsidiaries, including Access ARM Pensions, Hydrogen Payments, and Access Insurance Brokers. The Group’s total assets surged to ₦41.1 trillion, up by 54.0% year-to-date, while shareholders’ equity grew by 51.0% to ₦3.3 trillion. Customer deposits saw an impressive rise of 45.4%, increasing from ₦15.3 trillion in December 2023 to ₦22.3 trillion by Q3 2024, while gross loans and advances grew 56.2%, reaching ₦13.9 trillion.

    Access Bank continued its strong performance, with both interest and non-interest income contributing significantly to gross earnings. Subsidiaries in the UK and across Africa performed particularly well, delivering 54.8% of the Banking Group’s profit before tax, an increase of 185.8% year-on-year. The Group remains committed to expanding its footprint by offering tailored banking solutions in each region, enhancing customer experience, and advancing cross-border banking capabilities.

    The non-banking subsidiaries of Access Holdings also delivered consistent growth. Access ARM Pensions, following a merger with ARM Pensions, now oversees ₦3.1 trillion in assets under management. Hydrogen Payments processed ₦27.5 trillion in transactions, growing its operating profit by 516% year-on-year to ₦5.7 billion. Access Insurance Brokers, still in its first year of operations, posted a gross written premium of ₦8.3 billion and a profit before tax of ₦641 million. New entrant, Oxygen X Finance, the group’s digital lending subsidiary, reported ₦2.1 billion in operating income and a profit before tax of ₦412 million.

    Looking ahead, Access Holdings remains focused on enhancing profitability through diversified revenue streams across all markets. The group is deeply committed to advancing sustainability, embedding environmental, social, and governance principles into its operations to foster positive community impact. Through ongoing investments in employee development, Access Holdings is building a culture of innovation and excellence, further positioning the group as a driver of long-term value for its shareholders.