November 13, 2026

Access Financial Services Limited (AFS)

Unaudited financials for the six months ended September 30, 2026

Access Financial Services Limited (AFS), for the six months ended September 30, 2026, reported a 1% decrease in Total Interest Income to $1.28 billion, compared with $1.30 billion for the comparable period of 2025. Interest income from loans declined 2% to $1.27 billion (2025: $1.30 billion), reflecting a smaller loan portfolio following the loan write-offs at the March 2026 year end. Interest income from securities rose to $10.37 million (2025: $3.90 million). For the second quarter, Total Interest Income increased 1% to $660.16 million (Q2 2025: $653.88 million).

Interest Expense amounted to $190.80 million (2025: $204.55 million), a reduction of 7% year over year that reflects lower funding costs. Consequently, Net Interest Income was broadly flat at $1.09 billion, compared with $1.10 billion booked for the six months ended September 30, 2025.

Fees and commissions on loans contracted 24% to $90.47 million (2025: $119.42 million). As such, net interest income together with fees and commissions totalled $1.18 billion, a 3% reduction from $1.22 billion in 2025.

Other Operating Income rose 29% to $90.48 million (2025: $70.34 million). Other income, which includes recoveries on previously charged-off accounts, grew 30% to $94.32 million (2025: $72.28 million), partly offset by foreign exchange losses of $3.85 million (2025: $1.94 million).

Consequently, Net Operating Income for the six months amounted to $1.27 billion, a 1% decline from $1.29 billion in the corresponding period of 2025. For the second quarter, Net Operating Income rose 2% to $655.70 million (Q2 2025: $640.36 million).

Operating expenses for the six months totalled $945.37 million, down 2% from $965.95 million in 2025. Three lines declined:

• Allowances for credit losses fell 20% to $190.94 million (2025: $237.61 million), reflecting improved portfolio quality, stronger collection performance and disciplined underwriting.
• Marketing expenses fell 47% to $38.33 million (2025: $72.33 million).
• Depreciation and amortisation was flat at $43.03 million (2025: $42.93 million).

These reductions absorbed a 22% increase in Other operating expenses to $300.13 million (2025: $245.08 million) and a 1% increase in Staff costs to $372.95 million (2025: $368.00 million).

As a result, Profit before Taxation for the six months ended September 30, 2026, amounted to $328.70 million, a 2% increase on the $321.74 million reported in 2025. No exceptional item was recorded in the current period (2025: exceptional gain of $27.68 million). For the second quarter, Profit before Taxation rose 25% to $173.87 million (Q2 2025: $138.78 million).

Taxation for the six months amounted to $106.93 million, a 7% decrease from $115.51 million in 2025. As such, Net Profit for the six months ended September 30, 2026, fell 5% to $221.77 million (2025: $233.90 million). Excluding the prior-year exceptional gain of $27.68 million, net profit increased approximately 8% to $221.77 million from $206.22 million.

Total Comprehensive Income for the six months closed at $227.09 million, compared with $248.66 million in 2025. This included a foreign currency translation gain on the overseas subsidiary of $5.33 million (2025: gain of $14.76 million).

Consequently, Earnings Per Share for the six months amounted to $0.81 (2025: $0.85), while Earnings Per Share for the quarter totalled $0.43 (2025: $0.36). The twelve-month trailing EPS was $1.26, and the number of shares used in these calculations was 274,509,840.

Notably, AFS’s stock price closed the trading period on November 13, 2026, at $20.49, with a corresponding P/E ratio of 16.24x.

Balance Sheet Highlights

The Group’s assets totalled $8.55 billion (2025: $8.35 billion), an increase of 2% or $200.43 million, and 6% above the $8.08 billion reported at March 31, 2026. Cash resources led the growth in total assets, rising $290.45 million or 27% to $1.35 billion. Property, plant and equipment rose $39.76 million or 77% to $91.52 million, and Other accounts receivable increased $47.95 million or 30% to $206.42 million. These increases were partly offset by three declines:

• Loans and advances fell $162.48 million or 3% to $6.17 billion, reflecting the loan write-offs at the March 2026 year end.
• Deferred tax assets fell $13.99 million or 7% to $186.04 million.
• Right-of-use assets fell $3.35 million or 4% to $79.61 million.

Total Liabilities amounted to $4.76 billion (2025: $4.79 billion), down 1%. Loans payable increased 3% to $4.06 billion (2025: $3.96 billion) as the Group drew on funding facilities to support its financing and liquidity requirements, and Accounts payable rose 11% to $511.48 million (2025: $459.93 million). These increases were more than offset by a 65% reduction in Taxation payable to $94.10 million (2025: $270.36 million) and a 7% decline in Lease liability to $90.82 million (2025: $97.89 million).

Shareholders’ equity was $3.79 billion (2025: $3.56 billion), an increase of 6% driven mainly by the current period’s profits, net of $54.90 million in dividends paid. This represents a book value per share of $13.80 (2025: $12.97).

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