Wednesday, 23 March 2016

Access Bank profit after tax hits N66 billion in 2015

   Access Bank has recorded a Profit-Before-Tax (PBT) of N75 billion for the financial year ended on Dec. 31, 2015.The report is contained in the company’s audited result released to the Nigerian Stock Exchange (NSE).




Also, its profit after tax appreciated to N66 billion against N30 billion achieved in the preceding year.
Based on the improved performance, the directors of the bank recommended a final dividend of 30k per share bringing the total dividend for the year to 55k.

  Also, interest income grew by 17 per cent to ₦207.8 billion during the review period from ₦176.9 billion in the previous year due to improved income from lending activities and increased yield on investment securities.

   Commenting on the result,the bank’s Group Managing Director,Herbert Wigwe said that the result reaffirmed the bank’s resolve to add value to shareholders investment even amid harsh operating environment.


“We achieved strong financial progress in 2015 as the group recorded a 44 per cent growth in PBT to ₦75 billion from ₦52 billion in 2014, with significant contribution from our securities trading business,”
Mr. Wigwe attributed the growth to the bank’s diversified business model and robust risk management framework.He said the bank successfully raised capital by way of rights issue which strengthened its capital base and provided headroom to harness opportunities in key growth sectors of the economy.“We also made remarkable headway in redesigning our systems and processes to enhance service delivery across all customer touch points, with emphasis on tailored customer interactions.

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