February 17, 2026

Access Financial Limited (AFS)
Unaudited financials for the nine months ended December 31, 2025:

Access Financial Limited (AFS) for the nine months ended December 31, 2025, reported $1.94 billion in total interest income, a 4% increase relative to the $1.88 billion recorded in 2024. Of this, interest income from loans amounted to $1.94 billion (2024: $1.87 billion), while interest income from securities totalled $8.86 million (2024: $10.36 million). Total interest income for the quarter amounted to $642.95 million, a 1% decrease from the $651.96 million recorded during the same period in 2024.

Interest expense for the period totalled $300.73 million, a 6% decrease compared to the $319.78 million booked in 2024. This resulted in AFS recording net interest income of $1.64 billion for the period, a 5% increase from the $1.56 billion booked in 2024. Interest expense for the third quarter amounted to $96.18 million (2024: $124.70 million).

Net fee and commission income for the period under review decreased by 19% to $173.66 million from $213.63 million booked in 2024.

Net trading income increased by 3% to $1.82 billion (2024: $1.77 billion), with $600.42 million booked in the third quarter of 2025 (2024: $595.70 million).

AFS reported other income of $98.29 million (2024: $110.56 million). Foreign exchange losses of $2.36 million were reported this period relative to $5.38 million booked in the same period last year. As such, other operating income for the period decreased by 9%, totalling $95.93 million compared to $105.18 million recorded in 2024.

AFS reported operating expenses for the period of $1.46 billion (2024: $1.37 billion). Of this:

• Staff costs totalled $550.02 million (2024: $506.18 million).
• Allowance for credit losses amounted to $380.33 million (2024: $407.19 million).
• Depreciation and amortisation amounted to $65.32 million (2024: $68.00 million).
• Other operating expenses booked for the period totalled $366.42 million (2024: $318.07 million).

Consequently, profit before taxation decreased 10% to $453.87 million for the period relative to $506.80 million recorded in 2024. For the third quarter of 2025, profit before taxation amounted to $132.13 million, a 33% decrease from 2024’s $198.47 million.

AFS paid taxes amounting to $161.42 million (2024: $180.79 million). The company booked profit for the period of $320.13 million, a 9% decrease relative to the $352.77 million recorded for the comparable period in 2024. Profit for the third quarter was $86.23 million (2024: $155.22 million). Total comprehensive income decreased 10% to $327.56 million from $362.83 million booked in the same period last year. AFS reported total comprehensive income for the third quarter of $78.90 million (2024: $142.67 million).

Consequently, earnings per share for the nine months amounted to $1.17 (2024: EPS: $1.29), while earnings per share for the quarter totalled $0.31 (2024: EPS: $0.57).

The twelve-month trailing EPS was $1.72, and the number of shares used in these calculations was 274,509,840.

Notably, AFS’s stock price closed the trading period on February 16, 2026, at $17.98, with a corresponding P/E ratio of 10.47x.

Balance Sheet Highlights

The company’s assets totalled $8.29 billion (2024: $7.97 billion). This increase was attributable to cash and cash equivalents which amounted to $1.22 billion (2024: $761.83 million).

Shareholders’ equity was $3.59 billion (2024: $3.22 billion), representing a book value per share of $13.07 (2024: $11.72).

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