Access Holdings Records 88% Growth In Gross Earnings
Access Holdings Plc has announced its audited financial results for the full year ended December 31, 2024.
The Group delivered 88 per cent year-on-year growth in gross earnings, rising from N2.594trn in 2023 to N4.878trn in 2024.
According to the group’s financial results seen by THE WHISTLER, the performance was driven by diversified income streams, with interest income growing by 110 per cent to N3.48tn and non-interest income increasing by 47.8 per cent to N1.397tn, supported by retail banking activities, digital expansion, and trading strategy.
Profit before tax (PBT) increased by 19 per cent to N867.0bn, while profit after tax (PAT) rose to N642.2bn, despite inflationary and macroeconomic challenges.
Total assets grew by 55.5 per cent to N41.498tn, and customer deposits rose by 47 per cent to N22.525tn. Shareholders’ funds also increased by 72 per cent, reaching N3.76tn.
The financial services group’s net interest income grew by 82 per cent year on year to N1.268tn in 2024 on the back of a high interest rate environment that pushed the value of the loan book; from N695.36bn reported in 2023.
Access Plc recorded N415.241bn in net fees and commission, up by 100 per cent year on year from N207.782bn in the comparable year in 2023.
Gains from asset revaluation and foreign currency assets declined to N415.804bn in 2024 from N628.931bn.
Due to an increase in tax expenses, profit after tax settled at N642.217bn at the end of 2024, growing by less than 4 per cent year-on-year from N619.324bn in 2023.
Access Holdings Records 88% Growth In Gross Earnings is first published on The Whistler Newspaper
