Access Holdings Reports N1 Trillion Profit, Growth Plan

Access Holdings Plc announced a profit before tax of N1.007 trillion, reflecting its robust performance and diversified platform aimed at expanding its earnings base. During its fourth annual general meeting held on Wednesday, Chairman Aigboje AImoukhuede highlighted the company's strategic transition towards long-term value creation and the importance of maintaining a resilient balance sheet.

He noted that the financial results should be viewed in the context of the group's prudent decisions to exit regulatory forbearance, which resulted in elevated impairment charges. The company aims to strengthen its financial results while focusing on sustainable growth.

AImoukhuede reaffirmed the commitment to resume dividend payments once regulatory conditions are met. The group is also evolving beyond traditional banking by diversifying into financial services, including investment management and insurance.

The leadership transition was reinforced with the appointment of a new group managing director and chief executive officer, along with an independent non-executive director.