Access Holdings Plc. reported a 5.9% increase in profit after tax to ₦474.17 billion for the nine months ended September 30, 2026, as lower loan impairment charges helped offset rising funding costs and operating expenses.
The financial services group’s profit after tax rose from ₦447.55 billion in the corresponding period of 2025, while profit before tax increased by 8.3% to ₦667.36 billion.
However, the improvement came alongside a rise in the cost of funding, highlighting the pressure banks face when the expense of attracting and retaining deposits grows faster than income from lending and other interest-generating activities.
Access Holdings’ interest income increased by 6.9% to ₦3.10 trillion during the period. Interest expenses, however, rose by 10.1% to ₦1.81 trillion. The faster increase in interest expenses limited growth in net interest income, which rose by just 2.7% to ₦1.29 trillion.
Interest paid on customer deposits increased to ₦1.25 trillion from approximately ₦805.62 billion in the corresponding period of 2025.
The figures illustrate the challenge facing the group as it seeks to grow lending and maintain profitability while managing the cost of deposits.
The increase in funding expenses also comes amid expansion in customer balances. Customer deposits rose by 6.6% to ₦36.85 trillion, while loans and advances to customers increased by 7.4% to ₦14.33 trillion.
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