Access Holdings Plc, the parent company of Access Bank Plc, has reported a loss of N1.64 billion to fraud and forgery in the first half of 2025, marking a sharp increase from the N464 million recorded in the same period of 2024.
The figure, disclosed in the group’s half-year financial report, represents both attempted and successful fraud incidents.
According to the report, the bank lost N831.96 million to presentation of forged instruments, N617.11 million to fraudulent transfers, N173.12 million to cash thefts, and N20.90 million to electronic fraud.
Despite the surge in fraud-related losses, Access Holdings posted gross earnings of N2.50 trillion, reflecting a 13.81 per cent year-on-year growth from N2.20 trillion in H1 2024.
However, the group’s pre-tax profit fell by 8.12 per cent to N320.57 billion, down from N348.92 billion in the corresponding period of 2024.
Post-tax profit also declined by 23.25 per cent to N215.92 billion, compared to N281.33 billion in H1 2024.
Access Bank Plc, the group’s banking subsidiary, remained the primary driver of profitability, contributing N303.0 billion in pre-tax profit and N199.3 billion in post-tax profit.
The report underscores the impact of rising financial crimes on the group’s bottom line, even as core revenue streams remain resilient.
