Banking
Access Holdings N2.5trn H1 2025 Earnings Thrill Shareholders
By Aduragbemi Omiyale
The N2.5 trillion gross earnings recorded by Access Holdings Plc in the first half of 2025 has been welcomed by shareholders, increasing their investments in the financial services provider because of their confidence in the business.
In its half-year audited financial results for the period ended June 30, 2025, Access Holdings grew its earnings increased by 13.8 per cent year-on-year from the N2.2 trillion achieved in H1 2024.
This was driven by strong growth in interest income which increased by 38.9 per cent year-on-year to N2.0 trillion from N1.5 billion in H1 2024, with net interest income rising by 91.8 per cent to N984.6 billion from N513.4 billion.
Complementing this performance was a growth in net fees and commission income, which climbed by 16.1 per cent to N237.7 billion from N204.7 billion, as the profit before tax (PBT) and profit after tax (PAT) closed at N320.6 billion and N215.9 billion, respectively, underscoring the strength and resilience of our business model in the markets we operate in.
Key balance sheet indicators remain strong with total assets, customer deposits, loans and advances, and shareholders’ equity closing at N42.4 trillion, N22.9 trillion, N13.2 trillion, and N3.8 trillion apiece.
The performance of Access Holdings reflects the resilience of its business model, the diversification of our revenue streams, and the steady progress to the execution of its five-year strategic plan.
As for the banking segment of the organisation, it demonstrated resilient performance in H1 2025, as interest income expanded by 38.7 per cent year-on-year to N2.0 trillion in H1 2025 from N1.5 trillion in H1 2024.
Also, net interest income soared by 85 per cent to N992.7 billion from N536.7 billion, fee and commission income gained 27 per cent to close at N294.9 versus N232.5 billion due to increased transaction volumes.
Profit before tax (PBT) and profit after tax (PAT) closed at N303.0 billion and N199.3 billion, respectively.
The group’s non-banking subsidiaries maintained a strong growth momentum, with Access-ARM Pensions’ financial performance robust after its revenue went up by 29.9 per cent to N21.0 billion and profit before tax surged by 65.1 per cent to N13.1 billion, delivering a solid ROAE of 48.1 per cent, a cost-to-income ratio of 35.1 per cent, and a PBT margin of 62.5 per cent, underscoring strong operational efficiency and profitability.
Further, Hydrogen Payments recorded a 40.5 per cent growth in top-line revenue compared to H1 2024. Profit before tax (PBT) grew by 273 per cent year-on-year. The total transaction value processed increased by 211 per cent to N41.1 trillion from N13.8 trillion.
In addition, Access Insurance Brokers has sustained strong momentum, recording a 125 per cent growth in gross written premium, 146 per cent growth in revenue, and a 161 per cent improvement in profit before tax (PBT).
Oxygen X, the Group’s digital lending arm, has sustained strong momentum since launch in Q3 2024, delivering N5.4 billion in revenue and N2.2 billion in profit before tax in H1 2025.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
