ACCESS Financial Services (AFS) has achieved a major milestone, surpassing the $8-billion mark in total assets for the first time in its 25-year history.

The accomplishment comes on the back of steady loan growth, improved cost management, and what management describes as disciplined execution in a highly competitive market. At the close of its financial year on March 31, 2025, Access reported a net profit of $504 million, a 48 per cent increase over the $340 million recorded in 2024. Revenues grew by 9 per cent to $2.55 billion, while net loans and advances expanded by 8 per cent to $6.17 billion. The expansion of the loan book helped push total assets to $8.11 billion, representing a 14 per cent increase over the prior year.

“Our annual report for the financial year ended March 31, 2025, outlines a financial performance of which we can be proud. Led by a strong management team, the business delivered a net profit after tax of $504 million, which represents an increase of 48 per cent year over year,” said Michael Shaw, acting chairman.

The company’s net profit margin moved to 20 per cent, up from 15 per cent the year before, supported by revenue growth, reduced credit losses, and tighter cost management. The operating expense ratio also continued to improve, falling to 70 per cent from 76 per cent in 2024.

“That’s no small feat in a fiercely competitive market of more than 90 registered microfinance entities, according to Bank of Jamaica data. Cost management was a key focus in 2025, and I am proud of how the team rose to the challenge of executing the strategy while keeping operating expenses relatively flat,” said CEO Hugh Campbell.

Access remains heavily weighted towards personal loans, which accounted for 91 per cent of the gross loan portfolio, or $6.33 billion, up from $6.04 billion in 2024. However, the company also recorded growth in its business loan portfolio, which increased to $607 million, representing 9 per cent of the total, compared with $496 million a year earlier. Management says the expansion of business lending reflects its commitment to supporting micro, small, and medium-sized enterprises (MSMEs), which it views as central to Jamaica’s economic growth.

“We will continue to create products and services to meet the demand from small and micro business operators in Jamaica, considering the significant role they play in driving economic growth,” the company noted in its annual report.

The group’s performance also includes contributions from its US subsidiary, Embassy Loans Inc in Florida, which management said performed solidly despite macroeconomic headwinds in both markets. Together, the group achieved revenue of $2.55 billion and strengthened shareholders’ equity by 15 per cent to $3.35 billion. Dividends were maintained at $0.36 per share, consistent with the prior year, representing a payout ratio of 20 per cent. Shares in Access closed the financial year at $16.43 on the Jamaica Stock Exchange, reflecting a dividend yield of 2 per cent.

Looking ahead, Access Financial says it is entering its financial year 2026 from a position of strength, with solid capital and a steadily expanding loan book. The company’s focus will be on deepening its digital transformation by expanding loan origination and collections platforms, diversifying its portfolio with more SME lending and non-interest income streams, and strengthening risk management frameworks to protect asset quality. At the same time, management is aiming to sustain productivity gains while keeping staff costs in check.

Access Financial Services surpassed $8 billion in total assets for the first time in 2025, driven by steady loan growth and stronger profits..