Tag: Ecobank Transnational Incorporated (ETI)

Access Holdings Tops in Asset Quality in Proshare’s 2025 Tier 1 Banking Rankings

Access Holdings PLC has been ranked the Tier 1 bank with the best asset quality in Nigeria, having posted the lowest Non-Performing Loan Ratio (NPLR) at 2.76 percent, according to Proshare’s 2025 Tier 1 Banking Report released, recently. This marks a significant achievement for Access Holdings, reinforcing its leadership in credit discipline, risk management, and sustainable lending practices.

The report, titled “The Class of 2025: Getting Bigger, Bolder, and Dominant”, ranks Access Holdings second overall in the Tier 1 category, placing just behind Ecobank Transnational Incorporated (ETI), which led with a percentile score of 100. Access Holdings followed closely with a 91st percentile ranking, ahead of Zenith Bank at 73 percent, FirstHoldco at 82 percent, UBA at 64 percent, and GTCO at 55 percent.

In terms of NPLR performance, Access Holdings maintained a remarkable 2.76 percent, outperforming Zenith Bank at 3.54 percent, GTCO at 4.07 percent, UBA at 3.80 percent, ETI at 6.25 percent, and FirstHoldco at 6.70 percent. This places Access Holdings at the forefront of asset quality management among Nigeria’s top banks and reaffirms its reputation for operational discipline amid market volatility.

Commenting on the achievement, Bolaji Agbede, Acting Group Chief Executive Officer of Access Holdings PLC, said: “This ranking is not just a measure of our financial health; it reflects the strength of our governance, the quality of our decision-making, and the focus we place on long-term value creation. It is a testament to the discipline of our people and the effectiveness of our pan-African strategy.”

She added: “At Access Holdings, we believe that sustainable success lies in balancing growth with resilience. We will continue to execute with precision, build with purpose, and innovate with integrity as we expand our presence across Africa and beyond.”

The 2025 edition of the Proshare Bank Strength Index (PBSI) introduces a recalibrated framework that reflects the realities of the ongoing recapitalisation exercise in Nigeria’s banking sector. This edition goes beyond traditional financial metrics and incorporates broader determinants of profitability, stability, and stakeholder value. The PBSI model emphasises capital adequacy and scale, asset quality and sustainable growth, digital transformation and earnings diversification, governance quality and board diversity, as well as profitability and cost-efficiency.

Access Holdings demonstrated strong fundamentals across all these parameters. It closed Full Year 2024 with total assets of ₦41.5 trillion and a loan book of ₦13.1 trillion. The Group’s capital adequacy ratio stood at 20.46 percent, while asset growth for the period reached 55.49 percent. Its cost of risk was held at 1.25 percent, net interest margin recorded at 6.80 percent, and earnings growth was an impressive 88.05 percent, all indicators of a business built on financial soundness and execution excellence.

Speaking at the launch event, Olufemi Awoyemi, Chairman of Proshare, described the report as a vital mirror into the shifting dynamics of Nigeria’s financial services industry.

“Access Holdings has proven itself as a strong, adaptive institution. Its robust capital base, successful fundraising, and continental expansion efforts show a group that is not only growing but evolving. As recapitalisation reshapes the banking landscape, institutions like Access Holdings will continue to define the future of finance in Africa.”

He further remarked on the nuance behind ETI’s top ranking, noting, “ETI remains a unique case due to its pan-African structure and relatively limited regulatory exposure within Nigeria. Unlike Access Holdings and other locally regulated groups that must meet the ₦500 billion recapitalisation threshold, ETI’s broad regional footprint dilutes its local obligations. That distinction must be made when interpreting rankings.”

The report concludes that the Class of 2025, particularly Access Holdings, Zenith, UBA, FirstHoldco, GTCO, and ETI, dominate the banking landscape in terms of capital strength, asset size, loan portfolios, and governance quality. However, Access Holdings stands out for its unique blend of low risk, high growth, and strategic foresight, making it not just a leader in numbers but a frontrunner in shaping the future of African banking.

As Nigeria’s financial sector prepares for a more competitive and integrated future, Access Holdings remains committed to building a stronger, smarter, and more inclusive financial services ecosystem across Africa and beyond.

June 22, 2025
Ecobank Transnational Incorporated Appoints Group Chief Financial Officer Ayo Adepoju as Group Executive Director

…Over the years, Ayo has led numerous strategic initiatives, including landmark capital market transactions such as Eurobonds, Basel III-compliant instruments, and sustainability-linked debt

The Board of Directors of Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, is pleased to announce the appointment of Ayo Adepoju, the current group chief financial officer (CFO), to the Board as Group Executive Director, effective June 4, 2025.

Ayo brings two decades of broad-based leadership experience and deep institutional knowledge as a proud product of the Ecobank Group. His expertise spans financial management, capital markets, strategic planning, capital raising and structuring, treasury management, investor relations, business performance management, governance, enterprise transformation, financial due diligence, internal control, and risk-based audit.

As a distinguished finance executive, he has been instrumental in shaping the Group’s financial transformation, capital strategy, and long-term resilience. Since joining Ecobank in 2012, he has held several key leadership positions, including Group Financial Controller, Group Head of Business Performance and Analytics, and currently Group CFO.

Over the years, Ayo has led numerous strategic initiatives, including landmark capital market transactions such as Eurobonds, Basel III-compliant instruments, and sustainability-linked debt. These efforts have significantly enhanced Ecobank’s presence in international capital markets and strengthened transparency and investor engagement.

Prior to joining Ecobank, he worked at PricewaterhouseCoopers (PwC) in London and Lagos, serving in the Financial Services Practice.

Commenting on the appointment, Papa Madiaw Ndiaye, Chairman of the Ecobank Group, stated: “On behalf of my fellow directors, I commend Ayo for his outstanding performance and warmly welcome him to the ETI board. His proven leadership has fostered trusted relationships with the Board and made this appointment both natural and strategic for the Group’s future. I believe that Ayo embodies Ecobank’s renewed talent philosophy, a homegrown leader with global exposure and a compelling track record. His intellect, integrity, and impact-driven leadership have long been evident. His appointment to the Board is a testament to our belief in recognizing and elevating excellence from within.”

Jeremy Awori, Group Chief Executive Officer, added: “Ayo has played a critical role in strengthening Ecobank’s financial resilience and enabling sustainable business growth. His ability to manage complexity, innovate in financial strategy, align finance with enterprise-wide transformation, and lead collaboratively has made him a critical member of our executive team. I look forward to deepening our partnership as we drive forward our Growth, Transformation and Returns strategy.”

Ayo holds a First-Class Honours degree from the University of Lagos and is a Fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Management Accountants (CIMA), UK. He also holds an MBA from Warwick Business School and a Ph.D. in Organizational Leadership from Regent University, USA.

He has completed executive education programs at Wharton, London Business School, and most recently in 2024, the Advanced Management Program at Harvard Business School. An official member of the Forbes Finance Council, he is also a published author and respected thought leader in finance and organizational strategy.

This appointment reinforces Ecobank’s continued commitment to nurturing internal talent and promoting leadership excellence across Africa.

June 5, 2025
Equities Investors Investments Decline By N313bn

by Janet Olushola

Extending its losing streak for the fifth successive session, today, the domestic equities market lost N313 billion as investors continued to profit taking.

The All Share Index (ASI) fell by 574.59 absolute points, representing a decrease of 1.04 per cent to close at 54,915.61 points. Accordingly, investors lost N313 billion in value as market capitalisation declined to N29.916 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; MTN Nigeria Communications (MTNN), Ecobank Transnational Incorporated (ETI), Industrial & Medical Gases Nigeria, United Capital and Dangote Sugar Refinery.

On market outlook, analysts at GTI Securities said “investors continue to pick safe stocks ahead of election uncertainties, We expect this negative performance to persist in the absence of any other catalyst.”Market breadth closed remained negative as 25 stocks lost relative to eight gainers.

Chams Holding Company recorded the highest price gain of 8.70 per cent to close at 25 kobo, per share. University Press followed with a gain 7.57 per cent to close at N1.99, while LivingTrust Mortgage Bank gained 3.37 per cent to close at N3.07, per share.

Sterling Bank appreciated by 2.67 per cent to close at N1.54, while Zenith Bank rose by 2.52 per cent to close at N24.45, per share. On the other hand, ETI led the losers’ chart by 10 per cent to close at N10.80, per share. Industrial & Medical Gases Nigeria followed with a decline of 9.32 per cent each to close at N7.30, while Royal Exchange lost 8.22 per cent to close at 67 kobo, per share.

R.T. Briscoe Nigeria shed 7.69 per cent to close at 24 kobo, while International Energy Insurance shed 6.92 per cent to close at N1.21, per share.

Meanwhile the total volume of trades decreased by 24.23 per cent to 137.287 million units, valued at N1.510 billion, and exchanged in 3,489 deals. Transactions in the shares of Transnational Corporation (Transcorp) topped the activity chart with 26.085 million shares valued at N33.979 million.

Zenith Bank followed with 14.721 million shares worth N353.890 million, while Sterling Bank traded 13.231 million shares valued at N20.019 million.

United Bank of Africa (UBA) traded 10.242 million shares valued at N81.385 million, while Access Holdings transacted 7.626 million shares worth N66.201 million.

March 16, 2023
Stock Market Sustains Bullish Run, Up By N44bn

by Janet Olushola

Closing the first month of the year, the Nigerian stock market today closed higher as the capitalisation gained N44 billion.

Consequently, the All Share Index (ASI) rose by 80.84 absolute points, representing a gain of 0.15 per cent to close at 53,238.67 points. Accordingly, investors gained N44 billion in value as market capitalisation went up to N28.998 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Geregu Power, Chemical & Allied Products (CAP), Nigerian Exchange Group (NGXGroup), Northern Nigeria Flour Mills (NNFM) and Ecobank Transnational Incorporated (ETI).

Market breadth closed positive as 29 stocks posted gains while 18 stocks posted declines. Veritas Kapital Assurance, LivingTrust Mortgage Bank and Geregu Power recorded the highest price gain of 10 per cent each to close at 22 kobo, N1.98 and N193.60, per share.

John Holt went up by 9.92 per cent to close at N1.33, while SCOA Nigeria appreciated by 9.78 per cent to close at N1.01, per share. On the other hand, Chams and NCR Nigeria led the losers’ chart by 10 per cent each to close at 27 kobo and N3.24, while Unity Bank followed with a decline of 9.09 per cent to close at 50 kobo, per share.

Royal Exchange lost 8.97 per cent to close at 71 kobo, while Japaul Gold & Ventures shed 8.33 per cent to close at 33 kobo, per share.

The total volume traded grew by 24.25 per cent to 250.192 million shares, worth N5.885 billion, and traded in 4,328 deals. Transactions in the shares of Universal Insurance topped the activity chart with 48.554 million shares valued at N9.711 million. Guaranty Trust Holding Company (GTCO) followed with 14.159 million shares worth N353.773 million, while Zenith Bank traded 12.517 million shares valued at N315.023 million.

Access Holdings traded 11.570 million shares valued at N104.883 million, while Unity Bank transacted 10.879 million shares worth N5.476 million.

January 31, 2023