Access Financial Services has reported a consolidated net profit after tax of $353 million for the nine months ended December 31, 2024, reflecting a 9% increase or $28 million over the same period last year.
The company's improved performance was largely driven by a 9% rise in operating revenues, with a 14% growth in interest income from loans being the main contributor.
However, operating expenses saw a 2% increase, primarily due to a $62 million rise in allowance for credit losses.
This was partially offset by reductions in staff costs and depreciation and amortization charges, which together decreased by $34 million.
The fourth quarter of 2024 showed particularly strong results, with profit before tax surging by 52% to $198 million, compared to the same period in the prior year.
This growth was primarily fueled by a 12% increase in interest income from loans, underscoring AFS's continued expansion in lending operations.
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