Access Holdings Plc, a leading global financial institution, has grown its half year 2024 revenue to N2.2 trillion. This is according to the audited financial results for the period ended June 30, 2024.
A statement by the group said the results underscored the company’s continued resilience, focus on delivering sustainable performance and commitment to creating long-term value for shareholders.
Details of the results showed that Access Holdings Plc demonstrated strong performance across all key balance sheet indicators and continued to maintain a well-structured, healthy, and diversified financial position.
This is evident in the resilient half year results from the banking franchise operating in twenty-two markets across four continents and the non-banking subsidiaries including Access Pensions, Hydrogen Payments, and Access Insurance Brokers.
In half year 2024, total assets and shareholders’ equity stood at N36.5 trillion and N2.8 trillion, respectively. This represents a year to date of growth of 37.1 per cent and 29.8 per cent, respectively.
Customer deposits increased by 31.3 per cent, from N15.3 trillion in December 2023 to N20.1 trillion by half year 2024.
Gross loans and advances also saw an increase of 37.6 per cent, growing from N8.9 trillion in December 2023 to N12.3 trillion by half year 2024, from organic loan growth and the impact of foreign currency-denominated loans.
Access Holdings reported triple-digit growth across all profitability metrics, with gross revenue rising by 133.5 per cent year-on-year, from N940 billion in half year 2023 to N2.2 trillion in half year 2024.
This increase was supported by higher interest and non-interest earnings in the period. Interest income surpassed the N1 trillion mark, from the expansion of risk assets and effective pricing, leading to a 142 per cent growth from N606.8 billion in half year 2023 to N1.47 trillion by half year 2024.
Non-interest income also grew by 117 per cent, rising from N333.4 billion in half year 2023 to N723.6 billion in half year 2024.