Access Holdings Reports N867.019B Profit Before Tax, Declares N2.05 Final Dividend FY 2024
Access Holdings Plc has reported an impressive N867.019 billion pre tax for the full year 2024 and declared a final dividend of N2.05 per share. This strong financial performance highlights its resilient earnings growth and commitment to shareholder value.
Access Holdings Plc Reports N867.02 Billion Pre-Tax Profit for FY 2024, Declares N2.05 Final Dividend
Access Holdings Plc has released its audited financial results for the full year ended 2024, showcasing a strong performance across key financial indicators. The group recorded a profit before tax (PBT) of ₦867.02 billion, a 19% increase from the ₦729.00 billion reported in 2023.
In a regulatory filing with the Nigerian Stock Exchange (NSE) on Tuesday, the financial services powerhouse also posted gross earnings of ₦4.878 trillion, marking an 88% year-on-year growth from ₦2.594 trillion in the previous year.
Profit after tax (PAT) stood at ₦642.22 billion, a 3.7% rise from ₦619.32 billion in 2023. To reward shareholders, the Group has proposed a final dividend of ₦2.05 per share on its over 53.3 billion issued ordinary shares, bringing the total dividend payout for FY 2024 to ₦2.50 per share.
The significant surge in gross earnings was attributed to diversified income sources, with interest income jumping 110% to ₦3.480 trillion, and non-interest income increasing by 47.8% to ₦1.397 trillion. This was fueled by strategic retail banking growth, accelerated digital adoption, and agile treasury operations.
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Despite a challenging macroeconomic climate, Access Holdings posted impressive metrics:
- Total assets rose by 55.5% to ₦41.498 trillion
- Customer deposits increased by 47% to ₦22.525 trillion
- Shareholders’ funds expanded by 72% to ₦3.760 trillion
- Fees and commissions advanced by 81%
- International subsidiaries contributed 48.5% of PBT, underscoring successful market diversification
In a significant strategic move during the year, Access Holdings became the first institution to meet the CBN’s recapitalisation requirement, raising ₦351 billion via a rights issue.
According to the Group, the capital raised is being channeled toward enhancing digital infrastructure, boosting liquidity, and supporting long-term strategic growth.
A Vision for the Future
Looking ahead, Access Holdings reiterated its commitment to delivering inclusive, sustainable, and profitable growth, pledging to create long-term value for shareholders while prioritizing societal impact and environmental stewardship.
The Group's international expansion continued in 2024, with:
- Launch of banking operations in Hong Kong
- Regulatory approval secured in Malta
- Successful integration of subsidiaries in Zambia and Tanzania
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