Access Holdings reports N1 trillion profit, outlines growth strategy at AGM
via Punch Nigeria3 min read
Access Holdings Plc announced a profit before tax of N1.007 trillion, demonstrating the strength of its diversified platform and expanding earnings. Total assets reached N51.56 trillion, with customer deposits increasing. At its fourth Annual General Meeting, Chairman Aigboje Aig-Imoukhuede stated that the company's 2025 performance reflected a deliberate strategy to strengthen long-term fundamentals while maintaining strong financial results. He noted that the group made a prudent decision to accelerate the recognition of legacy exposures and exit regulatory forbearance positions, leading to elevated impairment charges, which prioritized balance sheet strength and long-term resilience over short-term earnings. The AGM highlighted the group's evolution beyond traditional banking into a diversified financial services ecosystem, with growing contributions from investment management, insurance, and technology-driven platforms, including Access ARM Pensions, Access Insurance Brokers, Oxygen X Finance, and Hydrogen Payments. The board addressed shareholder concerns regarding dividend payments, clarifying that the non-payment was due to regulatory alignment and compliance within the banking subsidiary, assuring shareholders of a resumption once conditions are met. The company also reported progress in governance and leadership continuity, with Innocent Ike appointed Group Managing Director/Chief Executive Officer and Ibironke Adeyemi as an Independent Non-Executive Director. Access
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