BusinessBanking/FinanceAccess Bank Sustains HY Profitability With N88.7bn PAT

Access Bank Sustains HY Profitability With N88.7bn PAT

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Access Holdings Plc has posted a gross earnings of over N591 billion for the half year 2022, the financial giant has said. The figure, according to the Herbert Wigwe-led corporation is more than 31 percent compared to the same period in the 2021 financial year.

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The company disclosed this in its unaudited half-year financials submitted to the Nigeria Exchange Limited, NGX seen by the magazine.

The result showed that the bank made significant performance in key metric areas, despite the prevailing economic situation under which the financial sector has struggled, sector analysts say.

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The breakdown of the results indicates that the bank’s profit before tax, PBT slightly rose to N97. 791 billion from N97.379 year-on-year.

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Also, Profit After Tax, PAT stood at N88.739 billion from N86.819 billion recorded in 2021.

Interest income also rose to N342.530 billion from N279.594 billion recorded in the half year of 2021.

The Board of Directors of the corporation has therefore proposed an interim Dividend of 20 Kobo per ordinary share of 50 Kobo each on the 35,545,225,622 issued ordinary shares of 50k each payable to shareholders on the register of shareholding at the closure date.

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