Access Holdings Plc is entering a new phase of its corporate journey, with a renewed focus on creating and delivering value to shareholders after years of expanding its footprint across markets, according to the company's Chairman, Aigboje Aig-Imoukhuede.
Speaking at the post-annual general meeting press briefing held in Lagos yesterday, Aig-Imoukhuede said Access Holdings had largely achieved its ambition of becoming one of the largest financial institutions to emerge from Nigeria. He noted that the group is now concentrating on translating its scale into sustainable returns for investors.
According to the chairman, the group's strategy in past years was centered on building a strong foundation, strengthening its operations, and pursuing growth opportunities that would position it to stay ahead of industry trends. "We started with an ambition to create an organization that is much bigger than any other organization or financial institution in Nigeria. It has been about building that foundation, reinforcing it continuously while keeping our eyes on that ambition," he said.
Aig-Imoukhuede assured shareholders that having built a formidable institution with operations across several markets, the company is now moving beyond expansion and acquisitions to focus on extracting greater value from the platform it has established. He explained that the next stage of growth will be driven by efficiency, optimization of resources, and prudent capital management, all aimed at enhancing shareholder returns.
"As we evolve to this phase in our corporate journey, we are moving beyond scale to focus primarily on extracting, creating, and delivering value from the scale we have built. The ultimate beneficiaries of that value are our shareholders," he stated.
The chairman stressed that the group is no longer solely focused on increasing its size through acquisitions and geographical expansion, but on ensuring that retained capital is deployed efficiently to maximize business performance and profitability. According to him, the optimization of capital across the group's businesses would create surplus capital, which would ultimately be returned to shareholders.
"Today, we are not only talking about acquisitions and expansion. We are talking about ensuring that the capital we retain is able to support our businesses optimally. When we achieve that optimization, we create surplus capital, and that surplus capital will come back to shareholders," he said.
On the non-payment of dividends, he said: "This reflects supervisory expectations across the banking system, particularly in relation to capital adequacy and the maintenance of appropriate buffers in a dynamic operating environment." He assured shareholders that the board has engaged with the subsidiary to ensure that the matter is addressed with urgency and in alignment with regulatory expectations.
Aig-Imoukhuede added that the institution possesses the financial strength, expertise, and management capacity required to maximize the opportunities that come with operating at a larger scale than its peers. "We have completed the scale phase of our evolution and are now focused on the value phase. All our efforts are concentrated on value creation. The difference is that we are driving a much larger vehicle than any other financial institution, and we have the capacity and expertise to drive it successfully," he added.
He maintained that the group's future growth strategy would be centered on converting its size, market presence, and capital strength into stronger earnings and improved returns for shareholders, marking a significant shift from expansion-led growth to value-driven performance.
Group Managing Director of the bank, Innocent Ike, said the gross earnings remained resilient, supported by a seven percent increase in net interest income to N1.36 trillion, while profit before tax rose by 16.2 percent to N1.007 trillion. He assured that the group remained focused on disciplined execution, prudent risk management, and consistent delivery of its strategies to ensure that the value created through its investments is fully realized.
