WATCH THE VIDEO HERE Access Holdings PLC has released its financial results for the third quarter of 2024, recording a pre-tax profit of N209.2 billion, a 65.01% increase from N126.8 billion in the same period last year. For the nine-month period ending September 30, 2024, cumulative pre-tax profit reached N558.1 billion, reflecting an 89.59% rise compared to the previous year. Net interest income also rose significantly in the third quarter, doubling to N331.4 billion from N165.7 billion a year earlier, marking a 100.01% increase. Additionally, fair value and foreign exchange gains saw a modest increase of 15.43% year-over-year, while earnings per share grew by 50.63% to N4.79 for the quarter. A cursory review of the results shows that core banking revenues, primarily from interest income and commissions, drove performance over the first nine months of the year. As of September 30, 2024, the group’s total assets surged to N41 trillion, driven by robust growth in cash, customer loans, and investment securities. Total liabilities also climbed to N3.7 trillion, largely due to an increase in deposits from customers and financial institutions.
Access Holdings reports N209.2 billion profit for the third quarter, with nine-month pre-tax profits up 89.59%.
