Access Holdings Plc achieved a historic profit before tax of N272.21 billion in Q1 2026, marking its first time surpassing the N1 trillion threshold in overall profits.
The bank’s profit before tax increased by 22.2% from N222.78 billion in Q1 2025. This growth is noteworthy against the backdrop of a challenging economic landscape, characterized by persistent inflationary pressures and exchange rate volatility.
That context matters because it highlights Access Holdings’ resilience amid heightened competition and cybersecurity concerns within the Nigerian banking system. The combined profit before tax of Nigeria’s leading deposit money banks reached N1.6 trillion in Q1 2026, indicating a robust performance across the sector.
Access Holdings crossed the N1 trillion profit-before-tax threshold for the first time in FY 2025 with N1.01 trillion. This trajectory suggests a strategic shift towards enhancing profitability while navigating economic challenges.
The bank’s net impairment charge for Q1 2026 was N73.81 billion, reflecting a staggering 239% increase from N21.77 billion in Q1 2025. Such figures raise questions about credit risk management amid economic pressures.
Banking accounted for an impressive 93% of Access Holdings’ consolidated profit before tax, underscoring its core business strength. In comparison, Zenith Bank Plc reported a profit before tax of N360.92 billion, while Guaranty Trust Holding Company Plc followed closely with N302.89 billion.
Wema Bank Plc also showcased impressive growth, with its profit before tax increasing by 41.2% to N72.6 billion in Q1 2026, further emphasizing the competitive dynamics among tier-one banks.
No final dividend was declared for Access Holdings Plc for FY 2025, which could influence investor sentiment as discussions about future dividend declarations continue.
KPMG signed off on Access Holdings Plc’s audited results on April 30, 2026, solidifying the credibility of these financial disclosures.
The robust performance came amid economic uncertainties that have affected many players in the banking sector—questions linger about how these conditions will shape future profitability and strategic decisions.