Access Holdings Plc Reports Triple-Digit Growth In H1 2024

Lagos, Nigeria — Access Holdings Plc has reported impressive financial results for the first half of 2024, with triple-digit growth in all key profitability metrics.

The company’s gross revenue increased by 133.5% year-on-year to ₦2.2 trillion in H1 2024, up from ₦940 billion the previous year. Access Holdings reported that this significant increase was driven by higher interest and non-interest earnings.

Key highlights:

• The total assets increased by 37.1% to ₦36.5 trillion in H1 2024.
• Shareholder equity rose by 29.8% to ₦2.8 trillion.
• Customer deposits grew by 31.3%, reaching ₦20.1 trillion.
• Organic loan growth and foreign currency-denominated loan activity drove a 37.6% increase in gross loans and advances, totalling ₦12.3 trillion.
• Interest income reached ₦1 trillion, up 142% from ₦606.8 billion in H1 2023.
• Non-interest income increased 117% to ₦723.6 billion.
• Profit before tax increased by 108.2% to ₦348.97 billion, from ₦167.6 billion in H1 2023.
• Profit after tax increased by 107.7%, from ₦135.4 billion to ₦281.3 billion.
  Earnings per share (EPS) increased by 103% from ₦3.74 in H1 2023 to ₦7.58 in H1 2024.

These strong results reflect Access Holdings’ strong performance in a challenging economic environment, demonstrating the company’s commitment to long-term growth and shareholder value.

The company’s impressive performance can be attributed to its strategic focus on expanding its customer base, increasing its loan portfolio, and optimising its operations. As Access Holdings continues to execute its strategic plan, it is poised for future growth and success.