November 17, 2025
Access Financial Limited (AFS)
Unaudited Financials for the Six Months Ended September 30, 2025
Access Financial Limited (AFS) for the six months ended September 30, 2025, reported $1.30 billion in Total Interest Income, a 6% increase relative to the $1.23 billion recorded in 2024. Of this amount, Interest Income from Loans totaled $1.30 billion (2024: $1.22 billion), while Interest Income from Securities amounted to $3.90 million (2024: $7.76 million). Total Interest Income for the quarter was $653.88 million, a 3% increase from the $633.77 million recorded during the same period in 2024.
Interest Expense for the period totaled $204.55 million, a 5% increase compared to the $195.09 million booked in 2024. As a result, AFS recorded Net Interest Income of $1.10 billion for the period, a 6% increase relative to the $1.03 billion booked in 2024. Interest Expense for the second quarter amounted to $103.81 million (2024: $97.03 million).
Net Fee & Commission Income for the period decreased by 18% to $119.42 million from the $145.19 million booked in 2024.
Net Trading Income increased by 3% to $1.22 billion (2024: $1.18 billion), with $606.94 million booked in the second quarter of 2025 (2024: $608.30 million).
Foreign Exchange losses of $1.94 million were reported for the period, compared to losses of $3.72 million booked in the prior year. As such, Other Operating Income decreased by 12%, totaling $70.34 million compared to $79.95 million recorded in 2024.
AFS reported Operating Expenses for the period of $965.95 million (2024: $948.07 million). Of this:
- Staff Costs totaled $368.00 million (2024: $347.97 million).
- Allowance for Credit Losses amounted to $237.61 million (2024: $288.12 million).
- Depreciation & Amortization totaled $42.93 million (2024: $45.15 million).
- Other Operating Expenses amounted to $245.08 million (2024: $220.96 million).
Consequently, Profit Before Taxation increased by 4% to $321.74 million for the period relative to $308.33 million recorded in 2024. For the second quarter of 2025, Profit Before Taxation amounted to $138.78 million, a 4% decrease from the $144.99 million booked in 2024.
AFS paid taxes amounting to $115.51 million (2024: $110.78 million). The company recorded Profit for the Period of $233.90 million, an 18% increase relative to the $197.55 million recorded for the comparable period in 2024. Profit for the second quarter was $99.14 million (2024: $96.76 million).
Total Comprehensive Income increased by 13% to $248.66 million from $220.17 million booked in the prior year. Total Comprehensive Income for the second quarter amounted to $102.42 million (2024: $109.50 million).
Consequently, Earnings Per Share for the six months amounted to $0.85 (2024: $0.72), while Earnings Per Share for the quarter totaled $0.36 (2024: $0.35). The twelve-month trailing EPS was $1.97, and the number of shares used in these calculations was 274,509,840.
Notably, AFS’s stock price closed the trading period on November 14, 2025, at $19.50, with a corresponding P/E ratio of 9.91x.
Balance Sheet Highlights
The company’s assets totaled $8.32 billion (2024: $7.77 billion). This increase was primarily attributable to higher cash and cash equivalents, which amounted to $1.06 billion (2024: $649.55 million).
Shareholders’ Equity was $3.54 billion (2024: $3.11 billion), representing a Book Value per Share of $12.88 (2024: $11.32).
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