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.

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The financial results, released on March 31, 2026, reveal that Zenith Bank’s profit after tax climbed to N314.02 billion. The bank retained its position as Nigeria’s most profitable lender during this quarter, despite facing ongoing economic challenges.

This context matters because it highlights how Zenith Bank has navigated a turbulent economic landscape characterized by inflationary pressures and exchange rate volatility. The combined profit before tax of seven major banks in Nigeria reached N1.6 trillion in Q1 2026, reflecting a growth of 6.77% from N1.5 trillion in Q1 2025.

Key statistics from the financial results:

• Zenith Bank’s profit before tax: N360.92 billion
• Profit after tax: N314.02 billion
• Combined profit before tax of seven major banks: N1.6 trillion
• Combined profit after tax: N1.27 trillion

Despite rising impairment charges and operating costs, Zenith Bank’s earnings growth remained steady, supported by strong interest income from loans and advances—factors that have significantly buoyed the banking sector as a whole.

Access Holdings Plc also reported a notable increase, with a profit before tax of N272.21 billion for the same period, which is up by 22.2% from Q1 2025. Such robust performances indicate that while challenges persist, certain banks are adapting effectively.

The recapitalisation initiative introduced in 2024 plays a crucial role in reinforcing the stability and long-term capacity of Nigeria’s banking system. As of March 6, 2026, the Central Bank of Nigeria confirmed that thirty banks have met new minimum capital requirements.

The resilience shown by Zenith Bank and its peers during these economic headwinds underscores the importance of strategic management and adaptability within the banking sector.

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Key financial metrics:

• Interest income declined by 9% to N895.034 billion in Q1 2026.
• Non-interest income grew by 19% to N444.683 billion in Q1 2026.
• Impairment charges surged by 239% to N73.81 billion in Q1 2026.
• Profit after tax reached N216.537 billion, up 18.49% year-on-year.
• Total operating expenses were N411.268 billion, marking a 26.16% increase year-on-year.

This context matters because it showcases how Access Holdings has navigated challenges within the Nigerian banking industry. The decline in interest income indicates potential pressures on traditional revenue streams, while the growth in non-interest income suggests successful diversification strategies.

Innocent C. Ike, the CEO of Access Holdings, stated, “Our 2025 performance reflects both the resilience of the Access franchise and the strength of the institution we have built over time.” This underscores not just financial success but also strategic positioning within a competitive landscape.

Moreover, net interest income after impairment charges grew by 34% year-on-year to N265 billion; however, this was still lower than the net non-interest income of N444.683 billion. This shift highlights an evolving financial performance where non-interest avenues are gaining traction.

The next expected development is how Access Holdings will continue this momentum into subsequent quarters, particularly as it has now entered a more deliberate optimization phase focused on returns on capital and long-term value creation.

As of May 1, 2026, Access Holdings’ share price was noted at N27, reflecting market confidence following its record-breaking financial performance in FY 2025 and Q1 2026.

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Key financial highlights:

• Interest income grew by 17.5% year-on-year.
• Fee income increased by 7.1% compared to Q1 2025.
• The loan book rose by 1.3%, reaching N3.17 trillion.
• Deposit liabilities expanded by 6.3%, totaling N13.69 trillion.
• Total assets amounted to N18.7 trillion.
• Shareholders’ funds closed at N3.6 trillion.
• The Capital Adequacy Ratio remained robust at 39.5%.

This impressive performance stems from various strategic initiatives within GTCO’s banking operations. The company has focused on improving its asset quality, as evidenced by the decline in IFRS 9 Stage 3 loans to 4.4% from 5.0% in December 2025. Additionally, the cost of risk showed significant improvement, dropping to 0.2% from a concerning 2.2% just months prior.

Mr. Segun Agbaje, the CEO of GTCO, emphasized that these results mark a defining shift in the quality and composition of their earnings. He stated, “We delivered solid growth across our core income lines, supported by disciplined execution and a well-diversified, strong, and healthy balance sheet.” This statement underscores the company’s commitment to sustainable growth.

But what does this mean for the future? Agbaje mentioned that GTCO sees significant headroom across payments, wealth management, and banking sectors not just in Nigeria but also across West and East Africa. The focus will remain on deepening customer relationships and leveraging technology to provide intuitive financial solutions.

This proactive approach positions GTCO favorably within an evolving financial landscape, yet uncertainties remain regarding how external economic factors might impact these growth trajectories moving forward.

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The journey to this milestone began with Access Holdings reporting a profit before tax of N1.007 trillion for the year ended December 31, 2025. This figure represents a significant 16.16% increase compared to the previous year’s profit of N867 billion. Such growth is noteworthy, especially when considering the dynamic nature of financial markets.

Several key factors contributed to this impressive financial performance. For instance, net interest income surged to N1.36 trillion, while net fees and commission income grew by an impressive 40.9% to N585.1 billion. Additionally, total assets increased by 24.3% to N51.57 trillion, showcasing the bank’s expanding footprint.

Key statistics from Access Holdings’ financial results:

• Customer deposits grew by 53.4% to N34.56 trillion.
• Shareholders’ funds rose by 15% to N4.33 trillion.
• The bank’s gross earnings reached N5.529 trillion, marking a 13.34% YoY increase.

This strong performance comes despite facing challenges, including an impairment charge that increased by 113.42% to N523.550 billion. Moreover, earnings per share saw a decline of 19.33%, indicating that while profits rose, certain aspects of profitability faced pressures.