Access Holdings Delivers Impressive Financial Growth, Social Impact in 2024
Access Holdings Plc has announced a remarkable performance for the 2024 financial year, recording an 88% year-on-year increase in gross earnings, which surged from ₦2.594 trillion in 2023 to ₦4.878 trillion. The growth was driven by a diversified income portfolio, including 110% rise in interest income and a 47.8% boost in non-interest income, bolstered by robust retail banking, digital expansion, and strategic trading initiatives.
Despite economic headwinds, profit before tax rose by 19% to ₦867 billion, while profit after tax climbed to ₦642.2 billion. Total assets grew by 55.5% to ₦41.5 trillion, customer deposits rose 47% to ₦22.5 trillion, and shareholders’ funds increased by 72%, hitting ₦3.76 trillion.
Beyond financials, the Group made significant social and environmental strides, impacting over 21 million lives across Africa through investments in education, health, entrepreneurship, and the environment. It also disbursed loans to over one million women-led SMEs via its W-Initiative and facilitated ₦1.4 billion diaspora mortgage loans.
Access Holdings earned multiple global recognitions, including three Euromoney Awards, the International Finance Award for Community Engagement, and the World Economic Magazine Award for Sustainability. It also achieved a 13.4% cut in emissions, planted over 57,000 trees, and powered 226 homes and businesses with solar energy.
International expansion remained a priority, with new operations launched in Hong Kong, regulatory approval secured in Malta, and successful integrations in Zambia and Tanzania. Foreign subsidiaries now contribute 48.5% of the bank’s profit before tax.
In a major milestone, Access Holdings became the first Nigerian institution to meet the Central Bank’s recapitalisation directive, raising ₦351 billion via a rights issue to strengthen digital infrastructure, liquidity, and growth.
With over 228,500 volunteer hours contributed by staff and ongoing commitment to ESG principles, Access Holdings is positioning itself as a global force for sustainable development, inclusive banking, and long-term shareholder value.
