Access Holdings PLC, a leading African financial services powerhouse, has announced a stellar performance for the fiscal year ending December 31, 2024, recording a remarkable 88% jump in gross earnings, from N2.59 trillion in 2023 to N4.88 trillion. This surge was largely driven by a 110% increase in interest income and a 47.8% rise in non-interest income, fueled by the Group’s diversified financial portfolio, vibrant retail banking strategy, and rapid digital growth.
Profit before tax climbed to N867 billion, representing a 19% year-on-year increase, while profit after tax reached N642.2 billion despite inflationary pressures and economic headwinds. The Group’s total assets surged by 55.5% to N41.5 trillion, while customer deposits rose significantly to N22.5 trillion. Shareholders were also rewarded with a 72% boost in equity, which hit N3.76 trillion.
Empowering Communities: Millions Reached Through Social Impact Initiatives
Beyond its financial accomplishments, Access Holdings made meaningful strides in social and environmental impact throughout 2024. The Group’s corporate social investment programs in education, health, entrepreneurship, and sustainability directly impacted over 21 million individuals across Africa. Internally, over 28,000 employees benefitted from wellness programs, while the W-Initiative empowered more than a million women-led SMEs with access to funding, further deepening financial inclusion.
The Group’s sustainability agenda earned it top-tier accolades, including three Euromoney Awards for Excellence, the International Finance Award for community development innovation, and the World Economic Magazine Award for Most Sustainable Bank. Environmental milestones included a 13.4% reduction in operational emissions, the planting of over 57,000 trees, and the promotion of solar energy in 226 homes and businesses.
Global Footprint Expands as Access Leads in Recapitalisation and Sustainability
In a bold move to solidify its global presence, Access Bank, Access Holdings’ flagship subsidiary, launched operations in Hong Kong, secured regulatory approval in Malta, and successfully integrated acquisitions in Zambia and Tanzania. Impressively, its international subsidiaries contributed nearly half (48.5%) of the banking segment’s profit before tax.
Access Holdings also became the first Nigerian institution to meet the Central Bank of Nigeria’s recapitalisation requirement, raising N351 billion via a rights issue. These funds are being strategically invested in digital infrastructure, liquidity enhancement, and expansion efforts aimed at long-term growth.
Looking ahead, the Group reaffirmed its commitment to delivering sustainable value, not only to shareholders but to society and the environment at large. With innovation, impact, and inclusion at its core, Access Holdings is positioning itself as a dominant player in the future of global finance.
