Access Bank Delays Publication of Audited Half Year Results

The Management of Access Bank Plc has notified stakeholders of its inability to meet up with the regulatory time frame earmarked for the publication of its Audited Financial Statements for the half year period ended 30th of June, 2021.

This is according to a notice signed by the company’s secretary, Sunday Ekwochi, and sent to the Nigerian Exchange Group Limited (NGX).

According to the disclosure, due to ongoing strategic business combinations across jurisdictions and the need to obtain regulatory approval, the release of the Group’s 2021 Audited Interim Financial Statements could be delayed beyond the regulatory due date of 29th of August, 2021.

Consequently, the banking giants expressed optimism that it would publish the results within the extended timeframe. It emphatically stated that it expects to publish the results on or before September 10, 2021.

In addition, the bank reminded insiders that the earlier declared closed period in respect of transaction in the Bank’s securities remains in place until 24 hours after the release of the Results.

Access Bank profit grows by 28% to N52.5 billion in Q1 2021.

Access Bank Plc released its unaudited results for the first quarter of the year (Q1, 2021).

  • Net interest income after impairment charges was N81.4 billion. (+28% YoY)
  • Net fee and commission income of N30.73 billion. (+33.6% YoY)
  • Personnel expenses of N20.06 billion. (+2.2% YoY)
  • Profit for the period was N52.55 billion. (+28.4% YoY)
  • Earnings per share of N1.49 Vs N1.21 YoY.

See link to results.

Access Bank Plc holds FY 2020 investors presentation.

Access Bank Nigeria Plc held its FY 2020 results presentation to investors and analysts. Below are the facts to the figures;

  • The bank recorded a surge in its customers’ base, surpassing over 40 million customers in 2020- a number that puts the bank above 47 African countries (82%) in terms of population.
  • The Bank’s Return on Equity (ROE), CAR and Tier 1 ratios stood at 15.6%, 20.6% and 15.46% respectively.
  • Of its global 6,897 professional staff in 2020, 53% are male while 47% are female.
  • It raised a total of N15 billion in green finance sequel to its launch of the first Green bond in SSA. It also spent a total of N10.25 billion in community initiatives.
  • Cost to Income ratio declined to 63.4% in FY 2020 (-2.7% YoY)
  • The Bank explained that its strong and diversified revenue growth in 2020 has been driven by expansive retail banking growth, optimizing value chain for wholesale banking customers and well-executed trading strategy among others.

For more information about the investors’ presentation, click HERE.

Access Bank Plc announces Annual General Meeting.

Access Bank Plc has announced that it will be hosting its 32nd Annual General Meeting on the 30th of April, 2021.

According to a notice signed by the Company’s secretary, Sunday Ekwochi, the meeting will hold at the Bank’s Head Office at Oniru Estate, Victoria Island, Lagos by 10:00 am. The following will be discussed;

  • The audited financial statements of the Bank for the year ended 31st December 2020.
  • The proposed final dividend for the aforementioned period will be formally declared and subsequently paid.
  • Appointment into the Bank’s Board will be duly scrutinized and ratified.
  • Directors’ fees for FY 2021 amounting to N58.13 million will be discussed and ratified.
  • The remuneration of bank managers and auditors will also be considered and discussed.

What you should know:

  • Access Bank Plc had earlier reported a Profit after tax of N106.01 billion in FY 2020. Sequel to this, the bank proposed a final dividend of 55 kobo.
  • In line with CAC guidelines, attendance of the AGM will be by proxy only

For more information about the notice, click HERE.

Access Bank Plc posts N106.01 billion profit in FY 2020.

Access Bank Plc released its full-year results for the year ended 31st December 2020.

  • Net interest income after adjusting for impairment charges was N200.06 billion. (-22.2% YoY)
  • Net fee and commission income of N93.6 billion. (+26.4% YoY)
  • Personnel expenses totaled N73.17 billion. (-4.93% YoY)
  • Profit for the year was N106.01 billion. (+12.7% YoY)
  • Earnings per share of N3.01 Vs N2.79 YoY.
  • Customers’ deposits totaled N5.6 trillion. (+31.3% YoY)
  • A final dividend of 55 kobo was proposed.

See link to results.