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From an African standpoint, Access Holdings now ranks 8th by total assets, dwarfing the likes of United Bank for Africa, UBA ($21.94 billion), Zenith ($21.061 billion), and FirstHoldCo ($17.72 billion), according to data from Chapel Hill Denham.
With total assets of $35.38 billion, Access Holdings is positioned just below Bank of Africa ($41.78 billion) and Banque Centrale Populaire ($53.52 billion), firmly establishing itself among the top-tier banking institutions across Sub-Saharan Africa (SSA) and the MENA region, according to the research house.
“This milestone highlights the impact of the Holdco’s recent expansion and consolidation strategy, which has significantly enhanced its balance sheet capacity and regional relevance,” said analysts at Chapel Hill Denham.
Access Holdings acquisitions are yielding fruits as they are contributing to the Group’s earnings and assets, which are expected to magnify shareholders’ returns. A well-diversified earnings base helps strengthen the lender’s capital base, which will pave the way for it to become much more impervious to macroeconomic shocks.
In the past few years, no lender has pursued interest yielding assets across the continent as Access Holdings.
In a deal that was consummated, Access Holdings had acquired National Bank of Kenya (NBK), for a purchase consideration of approximately N179.1 billion (US$109.6 million).
In 2024, it completed the acquisition of Standard Chartered subsidiaries in Angola and Sierra Leone, as it has presence in 20 countries (both in Nigeria and abroad).
This aggressive expansion means the Nigeria subsidiary is no longer the sole cash cow as other regions are increasingly contributing to the Group’s earnings, even amid a tough and unpredictable macroeconomic environment.
Nigeria now contributes 47 percent of total assets as of nine months (9M-25) compared to 75 percent in nine months (9M-23), with its rest of Africa and UK/International business contributing 21% and 32 percent respectively, according to data from Chapel Hill Denham.
Access Holdings’ now make up 37 percent of Tier 1 lenders (Zenith Bank, Guaranty Trust Holdings, FirstHoldCo, United Bank for Africa) total assets, and that compares with 28 percent and 29 percent as of December 2023 and December 2024.
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