Higher interest rates, naira devaluation drive Access Holdings’ profit to all-time peak

Net profit at Access Holdings went past a quarter of a trillion naira for the nine months to September in a feat never before recorded by the banking group.

With the earnings at N250.4 billion already dwarfing that for the whole of last year by N98.2 billion or 64.5 per cent, the development sets shareholders up for stronger dividends when the curtains draw on the current year.

Nigeria’s biggest lender also reported a spring in revenue to a record N1.6 trillion from N906 billion a year ago, which too surpassed the full-year 2022 level, in this case by 14.8 per cent.