Access Holdings Plc has attributed its higher impairment charges in the 2025 financial year to a deliberate strategy aimed at strengthening its balance sheet and accelerating provisions for legacy credit exposures, even as the Group recorded a profit before tax of N1.007 trillion.
Speaking at the company’s fourth Annual General Meeting (AGM) held in Lagos, Chairman of Access Holdings, Aigboje Aig-Imoukhuede, said the financial services group prioritised financial resilience and regulatory compliance over short-term earnings optimisation, positioning the institution for sustainable long-term growth.
According to him, the Group’s performance reflected a disciplined approach to risk management and capital preservation amid an increasingly challenging operating environment.
Aig-Imoukhuede disclosed that Access Holdings accelerated provisions on legacy and regulatory forbearance credit exposures during the year, resulting in elevated impairment charges but strengthening the institution’s balance sheet against future risks.
“Periods of economic uncertainty often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing, but improving in the quality, resilience, and sustainability of its earnings,” he said.
Despite the increased provisioning, Access Holdings reported strong growth across key financial indicators. Total assets rose to N51.56 trillion, while customer deposits expanded significantly, reflecting sustained customer confidence and the strength of the Group’s franchise across its operating markets.
The chairman noted that the Board remains committed to prudent capital management and strict adherence to regulatory requirements, adding that the Group’s earnings capacity remains strong.
He assured shareholders that dividend payments would resume once all applicable regulatory conditions are met, underscoring the Board’s commitment to balancing shareholder returns with long-term financial stability.
Aig-Imoukhuede also highlighted the company’s strategic direction under its “From Scale to Value” agenda, describing it as a shift from expansion-focused growth to maximising shareholder value.
According to him, management is focused on ensuring that earnings per share consistently exceed the cost of capital, a key indicator of sustainable value creation.
The chairman further revealed that Access Holdings sees substantial unrealised value within its international subsidiaries and is working to improve market recognition of the intrinsic value of those businesses.
On leadership and corporate governance, he commended Executive Director, Business Development, Bolaji Agbede, for her role in leading the management team as Acting Group Chief Executive Officer prior to the appointment of a substantive CEO.
He said the leadership transition was executed seamlessly, preserving operational stability, strategic focus and stakeholder confidence.
Reaffirming the Board’s commitment to long-term value creation, Aig-Imoukhuede said Access Holdings would continue to focus on disciplined execution, strong governance and sustainable profitability as it seeks to build a more resilient institution for shareholders and other stakeholders.
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