Business
Access Holdings Tops in Asset Quality in Proshare’s 2025 Tier 1 Banking Rankings
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.
For the second year running, Nigeria’s leading fintech, PalmPay, is collaborating with digital Solution provider, Globacom, to unveil the second edition of the “Recharge and Win Bonanza” which gives Nigerians who purchase Glo airtime and data via the PalmPay app the chance to win amazing prizes.
The promotion, according to a joint statement from the companies will run from June 19th to August 8th, 2025.
The statement explained that, “A weekly live raffle draw will be held and streamed on PalmPay’s official social media channels throughout the campaign. Customers who make Glo transactions through the PalmPay app will stand a chance to win prizes such as the iPhone 15 Pro, Infinix Hot 40, and many other exciting items”.
It added that every transaction above N500 gives participants an extra shot at winning, adding that daily social media challenges will also offer participants a chance to win cash prizes. Additionally, PalmPay users can enjoy up to 6% cashback when they buy Glo airtime and data through the PalmPay app. As an added bonus, customers who have not subscribed to a Glo data plan in the last 90 days will receive a 100% bonus on their recharge during the campaign period.
To participate in the promo subscribers can log onto http://bit.ly/PalmPaySms
Wayne Ruppel Head of Billers, PalmPay Limited stated that: “This collaboration is a major step in our mission to deliver MORE – more support, more rewards, and more innovation to our customers. Partnering with Glo, a leader in the telecommunications sector, is a testament to our shared commitment to improving everyday experiences for all Nigerians. We are excited to reward our users and encourage everyone to take full advantage of this exciting opportunity.
“PalmPay has transformed the digital payment landscape with its easy-to-use and reliable payment app. Offering free transfers, access to over 30 different services on its app, and a network of mobile money agents and merchants, it has rapidly grown to be a preferred payment platform for over 35 million users across Nigeria. We are therefore delighted to offer our customers the opportunity to win amazing prizes”.
On its part, Globacom expressed optimism that the bonanza will be another opportunity to create additional value for its subscribers through unique customer-appreciation schemes.
“Our partnership with PalmPay on the ‘Glo with ‘PalmPay bonanza” perfectly underscores our commitment to delivering exceptional value and experiences. Over the years, we have always sought innovative ways to enrich the lives of our customers. We, therefore, enjoin our subscribers to utilize the opportunity provided by the bonanza and enjoy the many benefits it offers”.
Both PalmPay and Glo are dedicated to providing an outstanding customer experience, rewarding loyalty, and reinforcing their shared goal of making digital transactions more accessible, rewarding, and secure for millions of Nigerians throughout the campaign.
Fidelity Bank has announced its commitment to exit Central Bank of Nigeria (CBN) forbearance arrangements by the end of the first half of 2025, ensuring compliance with regulatory requirements and positioning itself for a dividend payout to shareholders for the 2025 financial year.
In a statement issued on Wednesday, the bank disclosed that its exposure under the Single Obligor Limit (SOL) forbearance is tied to two obligors, but expressed confidence that this exposure will be brought within regulatory limits by the first half of 2025.
According to the statement signed by Company Secretary, Ezinwa Unuigboje, Fidelity Bank remains committed to maintaining strict compliance with all regulatory policies, including the recent CBN directive on forbearance, which aims to strengthen capital buffers, improve financial resilience, and promote prudent lending practices across the banking sector.
The bank says forbearance granted on other credit facilities applies to four customers; however, steps have been taken for the return of the accounts to performing status by June 30.
“With respect to the forbearance granted on other credit facilities, the Bank confirms that this applies to four customers. We have proactively made substantial provisions on these facilities and have taken targeted and comprehensive steps to ensure full provisioning or return of the accounts to performing status by June 30, 2025,” the statement reads.
The bank added that it has successfully raised N273 billion through a Public Offer and Rights Issue, which were oversubscribed by 237.92% and 137.73%, respectively.
In a bid to meet the N500 billion minimum capital requirement mandated by the CBN for banks with international authorization, the bank plans to raise an additional N200 billion through a Private Placement in the 2025 financial year.
The statement confirmed that CBN and shareholder approvals for the Private Placement have been obtained, while other regulatory approvals are still being processed to ensure timely completion in 2025.
Reaffirming its commitment to financial stability and shareholder value, Fidelity Bank assured investors that “it expects to exit all CBN forbearance arrangements (SOL/Credit) and remains in a strong position to meet the prevailing requirements to enable it to pay dividends for the current financial year and subsequently.”
Business
Zenith Bank to Exit CBN’s Regulatory Forbearance by June 30, Assures Continued Dividend Payout
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.
