Access Holdings’ fintech subsidiary, Hydrogen, has recorded the highest profit growth among Nigerian bank-owned payment companies in the first quarter of 2025, overtaking long-time leader HabariPay, the fintech arm of Guaranty Trust Holding Company (GTCO) in Nigeria’s increasingly competitive digital payments space.
According to the banking group’s latest financial statements published on the Nigerian Exchange Limited (NGX), Hydrogen’s after-tax profit surged by 466% to ₦283 million ($178,344) in Q1 2025, up from ₦50 million ($31,509) in the same period of 2024. GTCO’s HabariPay posted a profit growth of 52%, rising to ₦1.66 billion ($1.1 million) from ₦1.09 billion ($686,910).
Stanbic IBTC’s Zest Payments, however, widened its loss to ₦508 million ($320,138) in Q1, compared to ₦436 million ($274,764) a year earlier.
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