• Profit down 23.3% in H1 2025 due to higher loan-loss provisions
• Non-bank subsidiaries post strong double- and triple-digit gains
• Group revenue up 13.8%, led by credit and digital services growth

Access Holdings, the Nigerian financial group, reported a decline in profit for the first half of 2025 despite solid operational performance and strong growth from its non-banking subsidiaries. Net profit after tax fell 23.3% to 215.9 billion nairas ($148.5 million) compared with the same period a year earlier, according to financial results released on October 24, 2025.

The decline was mainly driven by an 87.4% increase in provisions for loan losses, which weighed on profitability. Return on equity dropped from 22.4% to 11.4%.

Despite this pressure, the group recorded strong revenue growth. Gross revenue rose 13.8%, supported by robust lending activities. Net interest income surged 91.8%, while fees and commissions increased 16.1%, driven by service digitalization and higher transaction volumes.

Among the non-banking subsidiaries, Access–ARM Pensions led the portfolio with a 65.1% rise in pre-tax profit and a 29.9% increase in revenue. Hydrogen Payments reported a 273% jump in pre-tax profit and a 211% surge in transaction volume. Access Insurance Brokers also maintained strong momentum, with pre-tax profit up 161% and gross written premiums up 125%.

Oxygen X, the digital lending arm launched in 2024, posted 2.2 billion nairas in pre-tax profit in its first half of operations.

Despite the overall profit decline, Access Holdings remains confident in its diversification and innovation strategy. The group said its priorities are to pursue prudent growth, accelerate digital and transactional income, and strengthen risk management and governance discipline.