The management and Board of Directors in Access Bank Plc has announced an increase of 18.3 per cent in profit before tax to N52 billion for the half year (H1) ended June 30, 2017 against N43.99 billion recorded in half year ended June 30, 2016.
The reports of the company’s half year result released by the Nigerian Stock Exchange (NSE) on Wednesday showed that the financial institution profit after tax increased by 17.3 per cent to N39 billion when compared with N33.6 billion posted in the preceding period of 2016.
The bank also recorded gross earnings of N246.6 billion against N174 billion achieved in the comparative period of 2016, indicating a growth of 41.7 per cent.
Net interest income stood at N83 billion, as against N68.45 billion in H1 2016, while impairment charges almost remained flat at N10.3 billion in H1 2017 from N10.2 billion in H1 2016.
The bank also announced an interim dividend of N0.25 same amount paid in the corresponding period of half year of 2016.
While commenting on the bank’s three months result and accounts, The Group Managing Director/CEO, Access Bank, Mr. Herbert Wigwe had said,“2017 marks the end of our third five-year transformation journey and in the coming months, we will focus our priorities on the delivery of our strategic objectives.”
“We will continue to improve on profitability and shareholder value by maintaining our capital and liquidity positions, assiduously implementing our cost management strategy, and exploiting retail business opportunities using our digital platforms and deepening market share of the wholesale business,” he added.