Access Holdings smashes records with N4.9 trillion earnings in 2024

By Kazeem Ugbodaga

Access Holdings Plc has reported an 88% surge in gross earnings for the 2024 financial year, climbing from N2.594 trillion in 2023 to N4.878 trillion.

The impressive growth, revealed in the Group’s audited results for the year ended December 31, 2024, reflects strong momentum across interest and non-interest income lines, supported by retail banking strength, digital expansion, and a dynamic trading approach.

Interest income rose by 110% to N3.480 trillion, while non-interest income grew by 47.8% to N1.397 trillion. Profit before tax increased by 19% to N867.0 billion, and profit after tax stood at N642.2 billion, despite macroeconomic headwinds.

The Group’s total assets soared by 55.5% to N41.498 trillion, with customer deposits rising 47% to N22.525 trillion. Shareholders’ funds grew by 72% to N3.760 trillion, underscoring Access Holdings’ balance sheet strength and resilience.

Beyond financial metrics, the Group deepened its social and environmental footprint in 2024, reaching over 21 million people across Africa through initiatives in education, health, entrepreneurship, and environmental sustainability.

Over 28,000 employees benefited from wellness programmes, while more than one million women-led SMEs received loans through Access Bank’s W-Initiative.

Access Holdings also secured major industry accolades, including three Euromoney Awards for Excellence—most notably ‘Best Bank for ESG’—and international honours for innovation and sustainability.

The bank facilitated $437.42 million in DFI inflows to support MSMEs, disbursed 1.6 million digital loans to low-income earners, and introduced its first N1.4 billion diaspora mortgage loan.

Environmental strides included a 13.4% cut in operational emissions, planting of over 57,000 trees, and enabling solar energy for 226 homes and businesses. Its headquarters received the IFC EDGE certification for sustainable building design.

Employees volunteered over 228,000 hours to community development causes, reinforcing the Group’s commitment to inclusive growth. On the global front, Access Bank expanded operations into Hong Kong, secured regulatory approval in Malta, and completed integrations in Zambia and Tanzania.

International subsidiaries contributed 48.5% to the banking segment’s profit before tax, as fees and commissions rose by 81%. Access Holdings also became the first institution to meet the Central Bank of Nigeria’s recapitalisation mandate, raising N351 billion through a rights issue to boost digital infrastructure, liquidity, and future expansion.

As it looks ahead, the Group says it remains focused on delivering sustainable returns while driving innovation, regional growth, and inclusive development.