Skip to main content

Access Bank posts N26bn profit after tax in Q1



Access Bank on Thursday announced impressive performance in all performance indicators as shown by its unaudited result for the first quarter which ended on March 31, 2017.

The bank posted profit after tax of N26 billion during the period compared with N19.4 billion achieved in the same period in 2016, an increase of 34 per cent.


The first quarter results of the bank released in Lagos on Thursday also reported that its profit before tax increased by 38 per cent to N31.2 billion against the N22.6 billion in the same period in 2016.

The bank’s profit before tax rose by 38 per cent to N31.2 billion in contrast with N22.6 billion in the same period in 2016.

The bank’s gross earnings for the period grew by 44 per cent to N116.0 billion against N80.3 billion recorded in the same period in 2016.


Its balance sheet closed positively with two per cent growth in total assets to N3.54 trillion from N3.48 trillion posted in 2016.

The group‘ recorded capital and liquidity ratios of 21.0 per cent and 46.3 per cent, respectively.

Mr Herbert Wigwe, the bank’s Group Managing Director, was quoted by the statement as saying that 2017 marked the end of its third five-year transformation journey.

Wigwe said that the bank would, in the coming months, focus on its strategic objective of improving profitability.

He said that the bank would continue to improve on profitability and shareholder value by maintaining its capital and liquidity positions.

Wigwe said that the company would implement cost management strategy and exploit retail business opportunities using its digital platforms to deepen market share of the wholesale business.

Comments

Post a Comment

Popular posts from this blog

Upcoming Yoruba actress, Feyi Hassan releases sexy birthday pictures

Upcoming is a bit harsh to describe, pretty Yoruba actress, Feyisara Hassan, because already she has produced five films of her own, while featuring in plenty more. Feyi, who became a producer as a teenager added another year on Wednesday, April 26, 2017 and to celebrate the special day she released some sexy pictures to show another side of her person. Vulnerably beautiful, delicate and yet provocative, Feyi, slays minds in this shoot, without having to go over the edge. Happy birthday girl.
Post a Comment
www.bountifullink.blogspot.com»

Wike moves to ban 5,000 unapproved schools in Rivers

The Rivers State government says it has concluded plans to ban all unapproved schools operating in the state with effect from September this year. State Commissioner for Education, Prof. Kaniye Ebeku, disclosed this when he led members of the Rivers state House of Assembly Committee on Education on an inspection of ongoing rehabilitation work at Government Girls Secondary School, Rumuokwuta in company of officials of the state Ministry of Education. Prof. Ebeku said about five thousand illegal private schools are operating in the state. He said that publications will be done in both National and local papers in the coming days with the full names of the affected schools. According to Ebeku, “We found that there are so many unapproved quacks schools operating in the state and this is not acceptable for many reasons. They deliver poor quality education and because they are operating underground they are not paying required taxes as legitimate approved organizations. “We would not want ...
Post a Comment
www.bountifullink.blogspot.com»

Stop exploiting Buhari’s ill health, northern group tells Yoruba leaders

Northern Patriotic Assembly (NPA) has warned politicians in the country to stop exploiting President Muhammadu Buhari’s ill health situation for political and personal gains . In a statement issued in Kaduna Wednesday the group said such actions by politicians was “immoral and despicable”. The statement signed by its President, Idakwo Jibrin and Secretary General, Alhaji Adamu Wakil pointedly accused some Yoruba Leaders of trying create crisis in the country through their utterances. According to the group recent remarks on the President’s health credited to Chief Bisi Akande and Femi Falana were part of a larger plot to plunge the country into crisis to the benefit of the Yorubas. “Even more unnerving is situation whereby people we once held in high esteem as elders, leaders and professionals decided to descend into the mud, using President Buhari’s health as their new object of obsession. “They have fanatically tried to impose this obsession of theirs on other Nigerians in a desper...
Post a Comment
www.bountifullink.blogspot.com»