- Access Bank Profit Declines 38% Despite Asset Growth and Strong Liquidity
Access Bank Ghana PLC reported a sharp decline in profit for the first quarter of 2026, as lower interest income, weaker fee and commission earnings and higher operating costs weighed on performance despite growth in assets, investment securities and customer loans.
The bank posted profit after tax of GH¢113.9 million for the period ended March 31, 2026, down from GH¢182.6 million in the same period of 2025. Profit before tax fell to GH¢175.3 million, from GH¢280.9 million a year earlier, reflecting pressure on both income and cost lines.
Total operating income declined to GH¢353.6 million, compared with GH¢450.8 million in the first quarter of 2025. Interest income fell to GH¢317.0 million, from GH¢384.5 million, while interest expense also declined to GH¢182.3 million, from GH¢248.4 million. Net interest income was broadly stable at GH¢134.6 million, compared with GH¢136.2 million a year earlier.
The more significant drag came from non-interest income. Net fee and commission income dropped to GH¢133.1 million, from GH¢233.8 million in March 2025, reducing the bank’s income cushion. Other operating income also fell to GH¢10.6 million, from GH¢22.5 million.
The decline was partly offset by stronger trading income, which rose to GH¢75.3 million, from GH¢58.3 million, suggesting that market-related activity provided some support to earnings during the quarter.
Costs remained elevated. Personnel expenses rose to GH¢75.3 million, from GH¢71.8 million, while other operating expenses increased to GH¢78.8 million, from GH¢71.6 million. Depreciation and amortisation declined slightly to GH¢24.2 million, from GH¢26.4 million.
The drop in profit translated into lower earnings per share, which fell to GH¢0.66, from GH¢1.05 in the comparable period of 2025.
Despite weaker earnings, Access Bank Ghana’s balance sheet expanded. Total assets rose to GH¢19.76 billion as at March 31, 2026, from GH¢18.25 billion in March 2025. The growth was driven largely by investment securities, which increased to GH¢7.64 billion, from GH¢5.54 billion, and loans and advances to customers, which rose to GH¢4.63 billion, from GH¢3.63 billion.
Cash and cash equivalents, however, declined to GH¢5.11 billion, from GH¢5.60 billion, while other assets fell sharply to GH¢953.3 million, from GH¢2.15 billion.
Customer deposits increased marginally to GH¢14.70 billion, from GH¢14.47 billion, while deposits from banks rose to GH¢762.5 million, from GH¢127.9 million. Borrowings declined to GH¢819.2 million, from GH¢1.15 billion, suggesting some deleveraging in wholesale funding.
Total liabilities stood at GH¢17.60 billion, up from GH¢16.31 billion a year earlier. Total equity improved to GH¢2.16 billion, from GH¢1.94 billion, supported by retained earnings of GH¢1.25 billion and statutory reserves of GH¢653.4 million.
The bank remained above regulatory capital and liquidity thresholds. Its capital adequacy ratio stood at 18.60 per cent, compared with 19.82 per cent in March 2025, while its liquid ratio was 71.34 per cent, broadly unchanged from 71.77 per cent a year earlier.
Asset quality, however, weakened. Non-performing loans rose to 4.77 per cent, from 2.59 per cent in March 2025, indicating some deterioration in the credit portfolio even as customer lending expanded.
Access Bank Ghana reported no default in statutory liquidity requirements and no regulatory sanctions during the period. Its risk management framework, according to the financial statements, continued to cover credit, operational, market and liquidity, legal and compliance, strategic, reputational and capital risks.
For investors, the first-quarter numbers present a mixed picture. Access Bank Ghana continues to grow its balance sheet, remains strongly liquid and maintains capital buffers comfortably above the regulatory minimum. But the sharp fall in fee income and the rise in non-performing loans point to emerging pressure on earnings quality and credit risk.
The immediate challenge for the bank will be to restore non-interest revenue momentum, protect asset quality and convert its larger loan and securities book into stronger profitability over the rest of 2026.
