Prime Business Africa
Access Holdings recorded N895.03 billion in interest income, covering lending and investments, in the first quarter (Q1) of 2026, failing to replicate the N980.67 billion earned in Q1 2025, representing an 8.73 percent decline.
Also, interest expense declined by 26.86 percent year-on-year, according to Prime Business Africa’s (PBA) analysis of Access Holdings’ consolidated and separate financial statements for the period ended March 31, 2026.
The interest expense gulped N556.17 billion between January and March of this year, declining below the N760.46 billion incurred on customer deposits during the corresponding period in 2025.
Join our WhatsApp ChannelAs expense decline outstripped that of income, Access Holdings recorded 53.88 percent growth in net interest income, which increased to N338.86 billion in Q1 2026, from N220.2 billion in Q1 of the previous year.
The company uncured N73.81 billion in net impairment charge on financial assets in the first three months of this year, compared to the N21.77 billion sustained in the same period in 2025.
Despite the 239.04 percent increase in net impairment charge on financial assets, Access Holdings saw a 33.57 percent year-on-year growth in net interest income after impairment charges.
Net interest income after impairment charges rose to N265.05 billion between January and March 2026, overshadowed the N198.43 billion reported in the first quarter of last year.
During the period under review, Access Holdings generated N205.03 billion from fee and commission income, exceeding the N174.47 billion earned in Q1 2025, reflecting a 17.51 percent growth.
However, fee and commission expense grew faster by 26.66 percent to N35.78 billion in the first quarter of 2026, compared to the N28.25 billion incurred in the corresponding period the year before.
After factoring both segments, Access Holdings recorded 15.74 percent increase in net fee and commission income, after reporting N169.24 billion in Q1 of this year, compared to the N146.22 billion posted in Q1 2025.
Fair value and foreign exchange gain accounted for N223.76 billion in the first quarter of 2026, up by 4.37 percent when compared to the N214.39 billion reported in the same period last year.
Other operating income was N51.67 billion between January and March this year, surpassing the N12.83 billion contributed in the first three months of 2025, indicating an increase of 302.76 percent.
Access Holdings reported profit before tax (PBT) of N272.21 billion during the period under review, up by 22.19 percent when compared to the N222.78 billion achieved in the first quarter of 2025.
Also, while income tax grew by 39.08 percent year-on-year, from N40.02 billion to N55.67 billion, the lender saw its profit after tax (PAT) increase by 18.49 percent, from N182.75 billion to N216.53 billion.
Meanwhile, Access Holdings accounted for 26 percent share of banking sector fraud cases in 2025.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
