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Access Holdings Records 88% Growth In Gross Earnings To N4.878 Trillion

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Access Holdings Plc has announced its audited financial results for the full year ended December 31, 2024.

The Group delivered 88 per cent year-on-year growth in gross earnings, rising from N2.594trn in 2023 to N4.878trn in 2024.

According to the group’s financial results, the performance was driven by diversified income streams, with interest income growing by 110 per cent to N3.48tn and non-interest income increasing by 47.8 per cent to N1.397tn, supported by retail banking activities, digital expansion, and trading strategy.

Profit before tax (PBT) increased by 19 per cent to N867.0bn, while profit after tax (PAT) rose to N642.2bn, despite inflationary and macroeconomic challenges.

Total assets grew by 55.5 per cent to N41.498tn, and customer deposits rose by 47 per cent to N22.525tn. Shareholders’ funds also increased by 72 per cent, reaching N3.76tn.

The financial services group’s net interest income grew by 82 per cent year on year to N1.268tn in 2024 on the back of a high interest rate environment that pushed the value of the loan book; from N695.36bn reported in 2023.

Access Plc recorded N415.241bn in net fees and commission, up by 100 per cent year on year from N207.782bn in the comparable year in 2023.

Gains from asset revaluation and foreign currency assets declined to N415.804bn in 2024 from N628.931bn.

Due to an increase in tax expenses, profit after tax settled at N642.217bn at the end of 2024, growing by less than 4 per cent year-on-year from N619.324bn in 2023

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Access Bank Retains Title as Nigeria’s Most Valuable Brand for Fourth Consecutive Year

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Access Bank PLC has once again emerged as Nigeria’s most valuable brand, securing the top position for the fourth consecutive year in the latest “Nigeria 25 2025” ranking by Brand Finance, the world’s leading brand valuation consultancy.

This achievement reaffirms Access Bank’s sustained brand leadership and its impact on the financial landscape through innovation, customer-centricity, and strategic growth.

The 2025 report shows that banks now account for 59per cent of the total brand value in the ranking, reflecting the strength and influence of the sector in shaping Nigeria’s economic future.

The Nigeria 25 2025 ranking also highlights considerable shifts in the country’s strongest brands, with banking brands rising through the ranks to dominate the top 10. This demonstrates a growing recognition of the sector’s resilience and adaptability, particularly as financial services play an increasingly crucial role in driving Nigeria’s economy forward.

Babatunde Odumeru, Managing Director, Brand Finance Nigeria, noted that, “Nigerian banking brands continue to grow, successfully navigating a challenging economic landscape with strategic agility while also maintaining customer loyalty.”

Commenting on the ranking, Roosevelt Ogbonna, Managing Director/CEO of Access Bank, said:

“This recognition as Nigeria’s most valuable brand for the fourth year running is a testament to the strength of our people, our customers’ trust, and the strategic clarity that drives everything we do. At Access Bank, we remain committed to delivering value through innovation, financial inclusion, and impactful partnerships across Africa and beyond.”

Also speaking on the milestone, Bolaji Agbede, Acting Group Chief Executive Officer of Access Holdings PLC, stated:

“Access Bank’s brand leadership reflects the Group’s long-term vision of becoming the world’s most respected African financial institution. As we continue to evolve and expand our footprint, we are focused on delivering sustainable growth, deepening stakeholder trust, and enhancing the customer experience across all our markets.”

Access Bank’s performance in the ranking showcases the results of sustained brand investment, operational excellence, and strategic expansion across Africa, with a growing presence in key global markets.

The dominance of banks in the “Nigeria 25 2025” list further reinforces investor and consumer confidence in the sector’s long-term stability, innovation capacity, and economic significance.

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MPC Retains Interest Rate At 27.5%

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The Central Bank of Nigeria’s Monetary Policy Committee has retained all economic parameters from the first quarter, including the interest rate at 27.50 per cent.

The announcement was made by the CBN Governor, Olayemi Cardoso, after the committee’s meeting held on May 19 and 20.

The committee had at its 299th meeting held on 19th and 20th February 2025, decided to retain the MPR at 27.50 per cent, and retain the asymmetric corridor around the MPR at +500/-100 basis points.


It also retained the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent and Merchant Banks at 16 per cent, while the Liquidity Ratio remained at 30.00 per cent.

While disclosing the decision of the MPC on Tuesday, Cardoso referenced the National Bureau of Statistics (NBS) inflation rate for April, pegged at 23.71 per cent.

According to the NBS, the annual inflation rate fell to 23.71 per cent in April 2025, from 24.23% in the previous month.

Food inflation, the largest component of the inflation basket, remained elevated but moderated to 21.26 per cent from 21.79 per cent in March, mainly on account of prices of some items such as maize, wheat, yam and wheat.

CBN Governor, Cardoso
The CBN governor said food inflation remained moderate in April, commending the Federal Government for implementing measures to increase food supply, as well as stepping up the fight against insecurity, especially in farming communities.

“The MPC encourages security agencies to sustain the momentum while the government provides necessary protection to farmers to further boost local food production,” he said.

Inflationary Pressures
The committee, however, acknowledged underlying inflationary pressures driven by high electricity prices, persistent foreign exchange demand pressure, and other legacy structure factors.

The MPC also noted new policies introduced by the Federal Government to boost local production, reduce foreign exchange demand pressure, and lessen the pass-through of higher rates to domestic prices.

“Given the relative stability in the foreign exchange market, members urge the bank to sustain the implementation of the ongoing reforms to further boost the economy,” Cardoso said.

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UBA Wins Big at Development Bank of Nigeria Service Ambassador Awards, Clinches Four Prestigious Awards

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Africa’s Global bank, United Bank for Africa (UBA) Plc, has reaffirmed its leadership position in fostering economic growth and empowerment as it clinched four major awards at the 2025 Development Bank of Nigeria (DBN) Service Ambassador Awards which held at the weekend in Lagos.

The prestigious awards, recognises financial institutions driving impactful support for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria, and UBA emerge as top performer, coming tops in the following categories: DBM with the Highest Impact on MSMEs in Nigeria; DBM with the Highest Impact on Women MSMEs; PFI with the Highest Impact in the North-Central Zone; and the Prestigious Platinum Service Ambassador Award, the highest award of the night.

These accolades underscore UBA’s unwavering commitment to empowering businesses, advancing financial inclusion, and supporting women entrepreneurs and underserved communities across Nigeria.

UBA’s recognition at the awards further solidifies its position as leading force in Nigeria’s financial sector, reinforcing its mission to empower small and medium enterprises and businesses and communities through innovative banking solutions.


DBN 1: Group Head, Retail and Digital Banking, United Bank for Africa (UBA); Shamsideen​​​​ Fashola; Managing Director/CEO, Development Bank of Nigeria, Dr. Tony Okpanachi; Group Deputy Managing Director, UBA, Muyiwa Akinyemi; and Group Head, SME Banking, UBA, Mr. Babatunde​​​​Ajayi at the 2025 Development Bank of Nigeria (DBN) Service Ambassador Awards were UBA won four awards including The Prestigious Platinum Service Ambassador Award, the highest honor of the night, held at the weekend in Lagos.



UBA’s Deputy Managing Director, Mr. Muyiwa Akinyemi, who received the Platinum Service Ambassador Award on behalf of the bank, expressed his delight, stating; “We are deeply honoured to be recognised by the Development Bank of Nigeria for our efforts in driving sustainable growth and empowerment for MSMEs, particularly women-led businesses and enterprises in Nigeria.

These awards are a testament to our strategic focus on providing accessible financing, capacity building, and innovative solutions that enable small businesses to thrive. We remain committed to fostering economic resilience and prosperity across Nigeria,” Muyiwa said.

Dr. Tony Okpanachi, Managing Director/CEO of the Development Bank of Nigeria, commended UBA’s outstanding contributions, saying:

“UBA has consistently demonstrated exceptional dedication to alleviating financing constraints faced by MSMEs in Nigeria. Their impactful interventions, especially in supporting women entrepreneurs and underserved regions, align perfectly with DBN’s mandate. We celebrate UBA’s achievements and encourage them to continue setting benchmarks in MSME financing.”

The Development Bank of Nigeria Service Ambassador Awards is an annual event that celebrates financial institutions and partners driving transformative change in Nigeria’s MSME sector. DBN, established to address financing challenges for small businesses, collaborates with banks like UBA to enhance access to credit and business support services.

The Development Bank of Nigeria (DBN) was established to alleviate financing constraints faced by MSMEs in Nigeria through the provision of credit guarantees, capacity building, and partial credit risk-sharing with Participating Financial Institutions (PFIs)

United Bank for Africa is Africa’s Global Bank. Operating across twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

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