Access Holdings Tops in Asset Quality in Proshare’s 2025 Tier 1 Banking Rankings

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings PLC has been ranked the Tier 1 bank with the best asset quality in Nigeria, having posted the lowest Non-Performing Loan Ratio (NPLR) at 2.76 percent, according to Proshare’s 2025 Tier 1 Banking Report released, recently.

This marks a significant achievement for Access Holdings, reinforcing its leadership in credit discipline, risk management, and sustainable lending practices.

The report, titled “The Class of 2025: Getting Bigger, Bolder, and Dominant”, ranks Access Holdings second overall in the Tier 1 category, placing just behind Ecobank Transnational Incorporated (ETI), which led with a percentile score of 100.

Access Holdings followed closely with a 91st percentile ranking, ahead of Zenith Bank at 73 percent, FirstHoldco at 82 percent, UBA at 64 percent, and GTCO at 55 percent.

In terms of NPLR performance, Access Holdings maintained a remarkable 2.76 percent, outperforming Zenith Bank at 3.54 percent, GTCO at 4.07 percent, UBA at 3.80 percent, ETI at 6.25 percent, and FirstHoldco at 6.70 percent.

This places Access Holdings at the forefront of asset quality management among Nigeria’s top banks and reaffirms its reputation for operational discipline amid market volatility.

Commenting on the achievement, Bolaji Agbede, Acting Group Chief Executive Officer of Access Holdings PLC, said: “This ranking is not just a measure of our financial health; it reflects the strength of our governance, the quality of our decision-making, and the focus we place on long-term value creation.

It is a testament to the discipline of our people and the effectiveness of our pan-African strategy.”
She added: “At Access Holdings, we believe that sustainable success lies in balancing growth with resilience. We will continue to execute with precision, build with purpose, and innovate with integrity as we expand our presence across Africa and beyond.”

The 2025 edition of the Proshare Bank Strength Index (PBSI) introduces a recalibrated framework that reflects the realities of the ongoing recapitalisation exercise in Nigeria’s banking sector.

This edition goes beyond traditional financial metrics and incorporates broader determinants of profitability, stability, and stakeholder value. The PBSI model emphasises capital adequacy and scale, asset quality and sustainable growth, digital transformation and earnings diversification, governance quality and board diversity, as well as profitability and cost-efficiency.

Access Holdings demonstrated strong fundamentals across all these parameters. It closed Full Year 2024 with total assets of ₦41.5 trillion and a loan book of ₦13.1 trillion. The Group’s capital adequacy ratio stood at 20.46 percent, while asset growth for the period reached 55.49 percent.

Its cost of risk was held at 1.25 percent, net interest margin recorded at 6.80 percent, and earnings growth was an impressive 88.05 percent, all indicators of a business built on financial soundness and execution excellence.

Speaking at the launch event, Olufemi Awoyemi, Chairman of Proshare, described the report as a vital mirror into the shifting dynamics of Nigeria’s financial services industry.

“Access Holdings has proven itself as a strong, adaptive institution. Its robust capital base, successful fundraising, and continental expansion efforts show a group that is not only growing but evolving.

As recapitalisation reshapes the banking landscape, institutions like Access Holdings will continue to define the future of finance in Africa.”

He further remarked on the nuance behind ETI’s top ranking, noting, “ETI remains a unique case due to its pan-African structure and relatively limited regulatory exposure within Nigeria. Unlike Access Holdings and other locally regulated groups that must meet the ₦500 billion recapitalisation threshold, ETI’s broad regional footprint dilutes its local obligations.

That distinction must be made when interpreting rankings.”
The report concludes that the Class of 2025, particularly Access Holdings, Zenith, UBA, FirstHoldco, GTCO, and ETI, dominate the banking landscape in terms of capital strength, asset size, loan portfolios, and governance quality.

However, Access Holdings stands out for its unique blend of low risk, high growth, and strategic foresight, making it not just a leader in numbers but a frontrunner in shaping the future of African banking.

As Nigeria’s financial sector prepares for a more competitive and integrated future, Access Holdings remains committed to building a stronger, smarter, and more inclusive financial services ecosystem across Africa and beyond.

ZENITH BANK REASSURES SHAREHOLDERS AND INVESTORS OF CONTINUED DIVIDEND PAYMENT, TO EXIT CBN’S REGULATORY FORBEARANCE BY 30TH JUNE

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Zenith Bank Plc, Nigeria’s biggest bank by Tier-1 Capital, has assured shareholders and investors of its readiness to satisfy all relevant conditions to exit the Central Bank of Nigeria’s (CBN) regulatory forbearance by June 30, 2025.

The bank also expressed confidence in meeting shareholders’ dividend expectations in the 2025 financial year.

The clarification comes on the back of heightened scrutiny of Nigerian banks’ capital health following the new CBN directive that suspends dividend payments and tightens oversight for banks with outstanding forbearance-related loans or breaches of the Single Obligor Limit (SOL).

In a statement presented to the Nigeria Exchange (NGX) Group on Tuesday, June 17, 2025, the Bank stated that its exposure under the Single Obligor Limit (SOL) forbearance relates solely to a single obligor, pointing out that this exposure will be brought within the applicable regulatory limit on or before June 30, 2025.

The bank also confirmed that the forbearance granted on other credit facilities applies to only two (2) of its customers, noting that it has made substantial provisions in respect of these facilities and taken appropriate and comprehensive steps to ensure full provisioning by June 30, 2025.

The bank further emphasized its strong financial footing, stating that it has successfully raised and surpassed the new regulatory capital requirement of N500 Billion, and is therefore well positioned to continue delivering value to all its key stakeholders.

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices.

The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

The Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine.

The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards.

Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022, 2023 and 2024 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards.

The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics.

The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.

Access Bank Plc, KCB Group Complete National Bank of Kenya (NBK) Transaction

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

KCB Group PLC (KCB Group) and Access Bank PLC (Access Bank) have completed the sale of National Bank of Kenya Limited (NBK) to Access Bank Plc, marking the conclusion of a transaction that began in March 2024. This follows the receipt of all regulatory approvals customary for a transaction of this nature.

L-R: Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank PLC and Lawrence Kimathi, Director of Finance, KCB Group, during the signing ceremony to mark the completion of the sale of National Bank of Kenya to Access Bank PLC in Nairobi on Friday. 

As a result, NBK, where KCB Group had 100% ownership, is now a wholly owned subsidiary of Access Bank Plc. NBK and Access Bank Kenya will continue to operate independently, pending the completion of all integration processes.

The acquisition is a pivotal step in Access Bank’s expansion strategy in East Africa. The combined entity will significantly enhance Access Bank’s presence in Kenya, strengthening the bank’s presence in the region. This move will allow Access Bank to offer an even more robust suite of banking services, catering to the evolving needs of individuals and businesses across Kenya.

Commenting on the completion of the transaction, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said:

“Finalising this acquisition marks a significant step in our drive towards unlocking the vast potential of East Africa’s financial landscape. Kenya stands at the heart of regional commerce, and with NBK now part of the Access Bank family, are better positioned to leverage our combined strengths to deliver high-impact banking solutions to individuals, businesses, and government institutions alike.

“NBK’s heritage and local expertise, combined with our pan-African network and innovation-led approach, will enable us to serve as a stronger catalyst for economic growth. Our ambition is clear: to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity.

We are excited about what lies ahead as we lay the groundwork for a unified and more resilient banking presence in Kenya that empowers our customers and partners to thrive.”

The transaction reflects ongoing market developments to enhance the banking sector’s resilience.

KCB Group CEO Paul Russo said, “The completion of this transaction marks a significant milestone for KCB Group in our efforts to create and deliver value for our shareholders. We are confident the sale will unlock new opportunities for all the stakeholders.

KCB Group will work closely with Access Bank to ensure a smooth handover, operational transition and collaborate on customary transaction closure processes.

This includes finalising the transfer of systems and governance functions in line with regulatory guidelines and service level commitments.

“KCB Group will also continue to engage relevant stakeholders to ensure compliance and preserve customer confidence throughout the post-transaction integration period,” he added.

George Odhiambo, Managing Director of NBK, added, “NBK has a proud legacy of serving the public sector in Kenya, and this integration with Access Bank offers an exciting opportunity to build on that foundation.

Access Bank’s expertise across corporate, retail, and digital banking – combined with a strong public sector focus – will allow us to serve customers more comprehensively and extend our reach.”

With the legal transaction now completed, both institutions will begin the transition process to ensure a seamless integration. In the interim, customers will continue to access services through their existing banking channels – whether with NBK or Access Bank Kenya.

The immediate priority remains the alignment of operations, unification of teams, and harmonisation of product offerings as the banks move toward functioning as a single, consolidated entity.