Access Bank grosses N168bn in earnings, declares 25k interim dividend

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Access Bank Plc has recorded a gross earnings of N168.3bn, representing an increase of 43 percent in the first six months of the year, over the N117.9bn recorded in the same period in 2014.
The Group recorded a strong performance in the first six months of the year, reasserting its capacity and resolve to deliver strong returns in spite of a tighter operating environment.
In the audited financial results released to the Nigerian Stock Exchange (NSE) on Thursday, Access Bank recorded a gross earnings of N168.3bn, representing an increase of 43 percent over the N117.9bn recorded in the same period in 2014.
The Bank proposes an interim dividend of 25Kobo per share.
Growth in gross earnings was boosted by an 18 percent increase in interest income to N98.9bn in the first half of 2015 from N83.6bn in the comparative period of 2014.
The Group posted a profit before tax of N39.1bn which rose by 44 percent from N27.1bn in 2014. Profit after tax was up 39 percent in 2015 to N31.3bn, compared to N22.6bn in half year 2014.
There were also increases in other financial indices; non-interest income rose 101 percent to N69.4bn in 2015 from N34.6bn in 2014; Operating income of N17.6bn grew by 42 percent in half year 2015 compared with N83.1bn in the corresponding period of 2014 and Return On Average Equity (ROAE) of 21.6 percent in 2015, from 16.5 percent in FY 2014.
Access Bank Group Managing Director, Herbert Wigwe said that “The results reflect the Bank’s concerted efforts to deliver on its growth objectives for 2015. The first half of the year was defined by significant macro-economic and policy headwinds with major impact on all aspects of our business.
“The group despite those challenges reported improved profits in the first half of the year with significant …Read More

Source:: New Mail