Access Holdings reported robust gross earnings growth of 14.0% year-on-year (YoY) to N2.5 trillion in the Half Year (H1) period to June 2025.
The increase in gross earnings was largely due to solid growth in interest income, according to MoneyCentral’s analysis of the tier-one lenders’ H1 financial statement.
Specifically, interest income jumped by 38.9% YoY to N2.0 trillion due to the 39.2% YoY expansion in average interest-earning assets (IEAs) to N25.7 trillion, and a strong blended asset (loans and investment securities) yield of 15.9%.
Meanwhile, interest expense fell by 10.5% YoY to N1.1 trillion.
Although still elevated, the relatively mild increase reflects the sizeable reduction in Access Holdings interest-bearing borrowings to N2.0 trillion (from N2.5 trillion), which helped moderate the cost of funds of 7.0%, compared to 8.2% in the Half Year (H1) period ended June 2024).
Access Holdings Net Interest Income (NII) surged to N984.6 billion, up 91.8% year-on-year, translating to a stronger Net Interest Margin (NIM) of 7.7% for the period, compared to 5.5% in H1, 2024.
Complementing the surge in interest income was a growth in net fees and commission income, which increased by 16.1% year-on-year to ₦237.7billion in H1 2025 from ₦204.7 billion in H1 2024.
Profit before tax (PBT) and profit after tax (PAT) closed at ₦320.6 billion and ₦215.9 billion respectively.
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