Access Holdings posts record N743bn profit, outperforming Nigerian banking peers
Access Holdings announced N743 billion net profit for 2025—its highest ever—driven by strong fair value and FX gains that more than doubled to N1 trillion. Access Bank Nigeria and Access Bank UK powered 89.2% of this result, contrasting sharply with most FUGAZ banks that saw profit declines amid high costs and weak interest income. Gross earnings rose 13.3% to N5.5 trillion, boosted by African acquisitions including Gambia’s Standard Chartered unit (N9.5bn) and Tanzania’s banking arm (N14bn). While South African and Kenyan operations posted losses (N21.7bn and N12.2bn), the group’s total assets grew to N51.6 trillion from N41.5 trillion. Net interest income increased 7% to N1.4 trillion, though impairment charges jumped 113.4% to N523.6bn to cover problem loans.
This performance highlights Access as a standout in Nigeria’s banking sector where peers struggled, signaling resilience in domestic operations despite continental challenges. For investors and savers, it reinforces Access Bank’s position as a key player in Nigeria’s financial landscape, though the significant FX-driven gains raise questions about sustainability if exchange rates stabilize. The stark contrast between profitable Nigerian/UK operations and loss-making African subsidiaries also underscores the varying risks across Access’s pan-African footprint.
Given Access Bank’s widespread retail presence, does this profitability make you more confident in keeping savings with them, or are you concerned about the heavy reliance on volatile FX gains rather than core banking interest income for such massive profits?