Access Holdings Plc assets base grew by 28 per cent to N15.0 trillion and customer deposits to N9.25 trillion in its financial year ended 2022. it also ended the year with an impressive 5,8 million customers across its subsidiaries.
“Access Holdings Plc Full Year 2022 financial results showed strong growth across revenue lines, despite the strong
macroeconomic headwinds locally and internationally. We registered a record revenue of N 1.4 trillion a 43 per cent year-on-year (y/y) growth from the N971.9 billion it stood in the corresponding period of 2021 as we begin to see the dividends of organic & inorganic activities across the ecosystem. Access Holdings Plc recorded a Profit Before Tax of N167.7 billion, five per cent y/y decline from the N 176.6 billion recorded in 2021 following huge write downs from the Ghana sovereign debt crisis”, a statement made available to the Nigerian Exchange said.
Overall, Interest Income grew 37 per cent y/y to N827 billion, driven by a strong loan book growth despite the high inflationary environment.
Net loans & advances to customers grew by 25 per cent across the Banking group, with a deliberate focus on credit disbursement to critical segments and growth sectors of the economy. We also saw good growth across the Subsidiaries, in particular the UK (up 36% to N1.1trillion in 2022) Access Holdings Plc ended the year with over 58 million customers across the extensive network of subsidiaries and business verticals.
CASA mix went up by five per cent, to 6.3 per cent as a result of leveraging innovation, digital technology and financial inclusion to mobilize sustainable low-cost deposits.
In the second half of 2022, Access Holdings Plc completed the divestment from Pensions Custodian business and acquired significant shareholding in First Guarantee Pensions Ltd & Sigma Pensions Ltd to form Access Pensions Ltd. This combination resulted in the creation of the 4th largest PFA in Nigeria, with Asset under Management of N0.9trilion, putting us clearly in the league of strategic players in the Pensions industry.
