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Access Holdings Reports 88% Surge in Gross Earnings, Hits N4.878 Trillion in 2024

Access Holdings has revealed that it recorded 88% growth in gross earnings, rising from N2.594trn in 2023 to N4.878trn in 2024.

Access Holdings PLC has announced a stellar performance for the full year ended December 31, 2024, with gross earnings surging by 88% year-on-year to N4.878 trillion, up from N2.594 trillion recorded in 2023.

According to a press statement issued on Wednesday, the growth was driven by robust retail banking activities, digital expansion, and a dynamic trading strategy. Interest income grew by 110% to N3.480 trillion, while non-interest income rose by 47.8% to N1.397 trillion. 

The Group’s profit before tax climbed 19% to N867.0 billion, and profit after tax stood at N642.2 billion, despite prevailing inflationary pressures and macroeconomic challenges.

Access Holdings’ total assets grew by 55.5% to N41.498 trillion, while customer deposits increased by 47% to N22.525 trillion. Shareholders’ funds also rose by 72%, reaching N3.760 trillion.

In addition to financial achievements, the Group made a significant social and environmental impact across the continent, reaching over 21 million people through corporate social responsibility initiatives in education, health, entrepreneurship, and environmental sustainability. 

Notably, the flagship subsidiary, Access Bank, disbursed loans to over one million women-led SMEs through its W-Initiative, reinforcing its commitment to financial inclusion and gender empowerment.

Access Holdings was recognised for its efforts with numerous awards, including three Euromoney Awards for Excellence—among them ‘Best Bank for ESG’—alongside accolades from International Finance and World Economic Magazine for community development and sustainability.

The Group’s ESG achievements include a $437.42 million facilitation in DFI inflows to support MSMEs across Africa, 1.6 million digital loans to low-income individuals, and Nigeria’s first diaspora mortgage loan worth N1.4 billion. 

The institution also recorded a 13.4% reduction in operational emissions, planted over 57,000 trees, and supported solar power installation for 226 homes and businesses.

Access Bank’s headquarters earned the IFC EDGE Green Building Certification, a milestone in sustainable construction and design, while staff contributed 228,500 volunteer hours to community development.

On the international front, Access Bank launched operations in Hong Kong, secured regulatory approval in Malta, and integrated operations in Zambia and Tanzania, expanding its global footprint. International subsidiaries accounted for 48.5% of the banking segment’s profit before tax, showcasing strong performance across diverse markets.

In a significant industry milestone, Access Holdings became the first financial institution to meet the Central Bank of Nigeria’s recapitalisation directive, raising ₦351 billion through a rights issue. 

The funds are being deployed to enhance digital infrastructure, bolster liquidity, and support long-term growth.

Looking ahead, Access Holdings says it remains committed to delivering sustainable value to shareholders and the wider society through innovation, cross-border expansion, and impactful investments in people and the planet.

Chioma Kalu

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