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…delivers 88% growth in gross earnings on diversified income
Access Holdings Plc has proposed final dividend of N2.05 for the year ended December 31, 2024. This brings the total dividend paid for the year 2024 to N2.50.
The financial holdings company delivered 88 percent year-on-year growth in gross earnings, rising from N2.594 trillion in 2023 to N4.878 trillion in 2024, driven by its diversified income stream.
The strong performance was driven by diversified income streams, with interest income growing by 110 percent to N3.480 trillion and non-interest income increasing by 47.8 percent to N1.397 trillion, supported by robust retail banking activities, digital expansion, and a dynamic trading strategy.
Profit before tax (PBT) increased by 19 percent to N867 billion, while profit after tax (PAT) rose to N642.2 billion, despite inflationary and macroeconomic challenges.
Read also: Access Holdings explains delay in publication of full year results
Total assets grew by 55.5 percent to N41.498 trillion, and customer deposits rose by 47 percent to N22.525 trillion. Shareholders’ funds also increased by 72 percent, reaching N3.760 trillion.
In 2024, the Group made significant social and environmental impact across the continent, touching millions of lives and earning multiple industry accolades. Through various corporate social investment initiatives in education, entrepreneurship, health, and the environment, the Group reached over 21 million individuals across Africa.
In terms of economic sustainability, Access Bank recorded strong strides through its Economic, Social and Governance (ESG) programmes. It facilitated $437.42 million in DFI inflows to support MSMEs across Africa, disbursed 1.6 million digital loans to low-income individuals, and booked its first N1.4 billion diaspora mortgage loan.
The Group also achieved a 13.4 percent reduction in operational emissions, planted 57,302 trees, and enabled solar power adoption for 226 homes and businesses. Its headquarters was awarded the IFC EDGE (Excellence in Design for Greater Efficiencies) Green Building Certification for sustainable design and construction standards.
Read also: Access Holdings becomes first bank to complete recapitalisation, raises N351bn
In addition, Access employees contributed 228,500 volunteer hours to various community development programmes, reinforcing the Group’s commitment to inclusive and purpose-driven impact.
The Group is focused on delivering sustainable returns to shareholders, while reinvesting in innovation, infrastructure, and cross-border expansion. Its banking subsidiary launched operations in Hong Kong, received regulatory approval in Malta, and successfully integrated its operations in Zambia and Tanzania, expanding its global footprint.
Access Bank posted significant gains across all performance metrics, with interest income growing by 110 percent and fees and commissions rising by 81 percent. International subsidiaries contributed 48.5 percent to the banking segment’s PBT, demonstrating strong execution across key markets.
