August 18, 2025
Access Financial Limited(AFS)
Unaudited financials for the first quarter ended June 30, 2025:
Access Financial Limited (AFS) for the first quarter ended June 30, 2025, reported $648.60 million in total interest income, a 9% increase relative to the $592.57 million recorded in 2024. Of this, Interest Income from Loans amounted to $647.43 million (2024: $590.40 million), while Interest Income from Securities totalled $1.17 million (2024: $2.17 million).
Interest Expense for the period totalled $100.75 million, a 3% increase compared to the $98.05 million booked in 2024. This resulted in AFS recording a Net Interest Income of $547.85 million for the period, a 11% increase from the $494.52 million booked in 2024. Net Fee & Commission Income for the three months decreased by 15% to $62.55 million from the $73.64 million booked in 2024. Net Trading Income increased by 7% to $610.40 million (2024: $568.15 million). AFS reported income from money services of $20,000 (2024: $4,000) and other income of $37.83 million (2024: $47.33 million). Foreign Exchange losses of $935,000 were reported this period relative to a loss of $1.86 million booked at the same time last year. As such, Other Operating Income for the period decreased 19% totalling $36.92 million, compared to $45.48 million recorded in 2024.
AFS reported Operating Expenses for the period of $464.37 million (2024: $450.28 million). Of this:
Staff Cost totalled $163.17 million (2024: $162.25 million).
Allowance for Credit Losses amounted to $131.98 million (2024: $137.42 million).
Depreciation & Amortization amounted to $22.16 million (2024: $22.58 million).
Other Operating Expenses booked for the period totalled $121.87 million (2024: $106.44 million).
Profit before taxation increased 12% to $182.95 million for the period relative to $163.34 million recorded in 2024.
AFS paid taxes amounting to $75.87 million (2024: $62.56 million), as a result AFS booked a Profit for the period of $134.76 million relative to the $100.79 million recorded for the comparable period in 2024. Total Comprehensive Income increased 32% to $146.24 million from $110.67 million booked the same time last year.
“Stronger interest income from loans, improved net interest margins, higher net trading income, and cost discipline mainly drove net profit growth. These gains offset declines in fee and commission income, lower securities interest income, and reduced other income. The exceptional gain in the company’s core loan operation boosted quarterly performance, while modest expense growth helped protect margins.”
Consequently, Earnings Per Share for the three months amounted to $0.49 (2024: EPS: $0.37). The twelve-month trailing EPS was $1.86, and the number of shares used in these calculations was 274,509,840.
Notably, AFS’s stock price closed the trading period on August 15, 2025, at a price of $18 with a corresponding P/E ratio of 9.68x.
Balance Sheet Highlights
The company’s assets totalled $7.79 billion (2024: $7.51 billion). The company’s total asset bae is driven by 7% YoY increase in “Loans and Advances” ending the quarter at $6.21 billion (2024: $5.83 billion), and a 2% YoY increase in “Intangible Assets” $457.23 million (2024: $447.93 million).
Shareholders’ equity was $3.49 billion (2024: $3.03 billion), representing a book value per share of $12.73 (2024: $11.05).
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