The combined profit before tax of Nigeria’s leading deposit money banks reached N1.6 trillion in the same quarter. Access Holdings Plc’s banking sector contributed significantly, accounting for 93% of its consolidated profit.

In FY 2025, Access Holdings crossed the N1 trillion mark with a profit before tax of N1.01 trillion. However, the bank faced challenges as its net impairment charge rose to N73.81 billion in Q1 2026, a staggering 239% increase from N21.77 billion in Q1 2025.

Other major banks reported varying results: Zenith Bank Plc posted a profit before tax of N360.92 billion, while Guaranty Trust Holding Company Plc recorded N302.89 billion. Wema Bank Plc saw an impressive increase of 41.2%, reaching N72.6 billion.

No final dividend was declared for Access Holdings Plc for FY 2025, raising questions among investors about future distributions. KPMG signed off on Access Holdings’ audited results on April 30, 2026.

The robust performance came amid persistent economic pressures such as inflation and exchange rate volatility. Observers note that these factors could impact future profitability and investor sentiment.

Investment banker Tajudeen Olayinka pointed out that most tier-one banks maintain net long US dollar positions, which indicates their foreign currency assets exceed liabilities.

As Access Holdings continues to navigate these challenges, its focus remains on driving sustainable earnings through customer relationships and technology deployment.

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Key financial metrics:

• Interest income declined by 9% to N895.034 billion in Q1 2026.
• Non-interest income grew by 19% to N444.683 billion in Q1 2026.
• Impairment charges increased by 239% to N73.81 billion in Q1 2026.
• Profit after tax for Q1 2026 was N216.537 billion, up 18.49% year-on-year.
• Total operating expenses reached N411.268 billion, a rise of 26.16% year-on-year.

The bank’s performance signals its strong position within the Nigerian banking industry. Access Holdings crossed the N1 trillion profit mark for the first time in FY 2025, with a pre-tax profit of N1.01 trillion, marking a 16% increase from the previous year.

Innocent C. Ike remarked, “Our 2025 performance reflects both the resilience of the Access franchise and the strength of the institution we have built over time.” He emphasized that Africa remains one of the most compelling long-term growth frontiers globally.

The bank’s total assets grew by about 4% in Q1 2026, while retained earnings increased by 19.36% to N1.997 trillion as of this period. The bank’s share price stood at N27 as of May 1, 2026.

Yet, despite these gains, net interest income after impairment charges grew by only 34% year-on-year to N265 billion, which is lower than the net non-interest income of N444.683 billion.

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