Access Holdings 2024 profits rises to N867b
Non-Executive Director, Access Holdings Plc; Roosevelt Ogbonna (left); Acting Group Chief Executive Officer, Bolaji Agbede; Non-Executive Chairman, Aigboje Aig-Imoukhuede, and Company Secretary, Sunday Ekwochi during the third yearly general meeting in Lagos, yesterday. PHOTO: AYODELE ADENIRAN
Access Holdings 2024 profits rises to N867b.
Access Holdings Plc has reaffirmed its commitment to delivering sustained value to shareholders by focusing on geographic expansion, cost optimization, and continuous innovation.
Speaking at the bank’s yearly general meeting held in Lagos yesterday, the Chairman, Aigboje Aig-Imoukhuede, said these priorities, outlined in the bank’s 2023 to 2027 business strategy would position the institution as a leader in the African financial services sector and boost shareholders value.
He stressed the need to maintain a forward-looking approach that would enable the bank navigate the complexities of the financial landscape.
He noted that these strategic moves are critical towards ensuring that Access Holdings remains at the forefront of the industry, delivering strong financial performance while adapting to market trends and policy shifts.
Also at the meeting, the bank’s shareholders approved a dividend payout of N125.3 billion, translating to N2.50 per share for the 2024 financial year.
Aig-Imoukhuede disclosed that the bank’s N351 billion rights issue has significantly boosted its capital base, increasing shareholders’ funds to N3.76 trillion and total assets to N41.5 trillion as of 2024.
According to him, the bank’s financial performance has been equally impressive, with gross earnings soaring from N2.6 trillion in 2023 to N4.9 trillion in 2024, representing an 88 per cent growth.
He pointed out that Profit before tax also rose to N867 billion, up from N729 billion in the prior year, underscoring the effectiveness of its growth, while reassuring shareholders that the bank is well-positioned to adapt to evolving market conditions and continue delivering long-term value, leveraging its strengthened capital structure and expansive operational footprint.
Acting Group Chief Executive Officer, Bolaji Agbede also outlined the next phase of the bank’s growth, emphasising the scaling of non-banking operating companies and accelerating digital transformation.
She noted that the bank is set to deepen its operations in Nigeria while expanding its presence across high-growth African and international markets.
According to her, this approach is designed to diversify revenue streams and enhance long-term shareholder returns.
Agbede also highlighted the bank’s focus on innovation, stating that Access Holdings is prioritising the incubation and launch of new businesses across key sectors to capture emerging opportunities.
Also, she said the bank is fast-tracking the integration and upgrade of its technology infrastructure to boost operational efficiency, expand its customer base, and enhance overall service delivery.
In response, the president of the Ibadan Zone Shareholders Association of Nigeria, Eric Akinduro urged the bank to prioritise cybersecurity to protect its digital operations against potential threats.
Also speaking, the president of the Independent Shareholders Association of Nigeria, Moses Igbrude also underscored the need for long-term business sustainability, noting that shareholders proritise security of their investments in an increasingly digital and interconnected financial ecosystem.
