Access Holdings Plc reported pre-tax profit of N667.36 billion for the nine months ended September 2026, up 8.29% from N616.25 billion a year earlier.

Third-quarter pre-tax profit reached N253.23 billion, up 78.43% from N141.92 billion in Q2 2026, but down 14.35% from N295.68 billion in Q3 2025.

The company jointly released its half-year and nine-month results on November 2, 2026, according to the release information supplied.

The H1 publication had been delayed pending Central Bank of Nigeria approvals, according to the accompanying context.

Key Highlights

Nine-month figures compare with the corresponding period of 2025.

  • Interest income: N3.10 trillion (Up 6.91% YoY from N2.90 trillion).
  • Fee and commission income: N650.87 billion (Up 8.40% YoY from N600.40 billion).
  • Net interest income: N1.29 trillion (Up 2.74% YoY from N1.26 trillion).
  • Pre-tax profit: N667.36 billion (Up 8.29% YoY from N616.25 billion).
  • Profit after tax: N474.17 billion (Up 5.95% YoY from N447.55 billion).
  • Basic earnings per share: N8.02 (Up 0.25% YoY from N8.00).
  • Q3 pre-tax profit: N253.23 billion (Up 78.43% quarter-on-quarter from N141.92 billion; Down 14.35% YoY from N295.68 billion).
  • Q3 profit after tax: N207.45 billion (Up 313.41% quarter-on-quarter from N50.18 billion; Down 10.44% YoY from N231.63 billion).
  • Total assets: N52.60 trillion (Up 0.78% YoY from N52.20 trillion).
  • Debt securities and interest-bearing borrowings: N2.05 trillion (Down 37.44% YoY from N3.28 trillion). This excludes deposits, lease liabilities and Additional Tier 1 capital.
  • Cash and cash equivalents: N6.53 trillion (Down 27.54% YoY from N9.01 trillion).

Driving the numbers

Access Holdings’ third-quarter performance marked a recovery from Q2, although profit remained below the corresponding quarter of 2025.

  • Subtracting Q1 2026 pre-tax profit of N272.21 billion from H1 profit of N414.13 billion produces Q2 pre-tax profit of N141.92 billion.
  • The same calculation gives Q2 profit after tax of N50.18 billion, compared with N207.45 billion in Q3.
  • The stronger quarter-on-quarter recovery in after-tax profit also reflected a lower tax charge.
  • Subtracting the Q1 tax charges from the H1 total produces a Q2 charge of N91.74 billion, compared with N45.78 billion in Q3.

For the nine-month period, lower impairment charges provided substantial support for earnings.

  • Charges fell 73.45% to N92.91 billion from N349.99 billion, reducing the expense by N257.08 billion.
  • Funding costs absorbed much of the growth in interest income. Interest expense increased 10.09% to N1.81 trillion, outpacing the 6.91% increase in interest income. Consequently, net interest income grew just 2.74%.
  • Interest earned on customer loans increased to N1.54 trillion from N1.38 trillion. However, interest paid on customer deposits rose to N1.25 trillion from N805.62 billion, putting pressure on the benefit from higher lending income.
  • Fees provided additional support. Fee and commission income increased 8.40%, while related expenses declined to N115.93 billion from N124.49 billion. Net fee income consequently rose 12.40% to N534.94 billion.

Other income movements were mixed as the group recorded a N138.81 billion fair-value hedge loss and a N19.91 billion loss on financial instruments at fair value.

  • A N27.28 billion bargain-purchase gain supported profit. The original 2025 accounts combine fair-value and foreign-exchange gains, limiting direct comparison with the separately presented 2026 lines.
  • Operating costs also increased as personnel expenses rose 20.51% to N432.12 billion, while other operating expenses increased 6.03% to N757.26 billion.

Despite the sequential recovery, Q3 earnings remained below the prior-year level. Quarterly fee and commission income fell 23.72% to N215.79 billion, while other operating income declined to N11.61 billion from N49.86 billion.

Market reaction

Access Holdings shares were flat at N28.60 in early trading on November 2, 2026, according to active trade information as of when we went to press. This reflects the early-session position rather than the closing market reaction.

Year-to-date, the stock is up 39% while it is down 5.25% in the last one month.

No interim dividend was declared in the supplied results. The H1 directors’ report explicitly states that the board did not propose an interim dividend.