Hydrogen, the fintech subsidiary of Access Holdings, has posted a profit before tax of N966 million for the half-year 2025, a staggering 306% increase compared to N238 million in the same period last year.
The company’s operating income surged to N4.1 billion in June 2025, up from N3.1 billion in June 2024, reflecting robust growth in its digital financial services and expanding customer base.
Operating expenses rose moderately to N3.2 billion, compared to N2.9 billion in the previous year, indicating strategic investments in infrastructure and innovation.
The year-on-year comparison highlights Hydrogen’s accelerating momentum:
Access Holdings says Hydrogen Payment Services Company Limited has started breaking ground in the fintech industry with the seamless and reliable solutions it offers to businesses in Nigeria.
“Hydrogen’s vision is to build Africa’s most powerful business services network. Hydrogen offers a wide range of products and services, including InstantPay, Payment gateway, POS, Card, and Switch, which have been well-received by customers and the industry as a whole,” the group noted in the financial statement.
The rise of bank-owned fintech subsidiaries such as Hydrogen (Access Holdings), HabariPay (GTCO), and Zest (Stanbic IBTC) is a direct outcome of the Central Bank of Nigeria’s (CBN) 2010 regulatory directive mandating commercial banks to adopt a holding company structure. This strategic policy shift enabled banks to diversify into non-banking services—particularly digital payments—through independently licensed entities.
By separating core banking operations from ancillary services, the CBN’s framework opened the door for traditional financial institutions to compete more aggressively with agile, non-bank fintechs like Opay, Palmpay, and Moniepoint. These bank-backed fintechs are now leveraging their parent institutions’ infrastructure and trust to scale rapidly in Nigeria’s dynamic digital finance landscape.
As a group, Access Holdings Plc reported a pre-tax profit of N320.57 billion for the period ended June 30, 2025, representing an 8.12% year-on-year (YoY) decline from N348.92 billion recorded in the corresponding period of 2024.
The group’s bottom-line performance continued to benefit from robust top-line growth, primarily supported by stronger interest income.