Access Bank Records ₦459.08bn Gross Earnings In 2017

Access Bank Plc on Wednesday announced gross earnings of ₦459.08 billion for the financial year ended December 31, 2017.

NAN reports that the gross earnings grew by ₦77.76 billion or 16.94 per cent compared with ₦381. 32 billion recorded in the corresponding period of 2016.

The bank’s audited result, released by the Nigerian Stock Exchange (NSE), showed that profit before tax declined to ₦80.07 billion from ₦90.34 billion in 2016.

The profit for the year stood at ₦61.99 billion from ₦71.44 billion posted in 2016.

An analysis of the bank result showed that total impaired loans and advances stood at N 101.36 billion from ₦36.61 billion recorded in 2016.

Interest income rose to ₦319.85 billion from ₦247.29 billion achieved in the comparative period of 2016.

Net interest income also grew to ₦163.45 billion from ₦139.15 billion, while fees and commission income rose to ₦56.67 billion against ₦55.44 billion reported in the preceding year.

The result showed that total assets surged to ₦4.10 trillion from ₦3.48 trillion in 2016.

The board proposed a final dividend of 40k per ordinary share held by investors.

Naija News understands that the bank had earlier paid interim dividend of 25k, the same amount paid in the previous year.