2015: ACCESS BANK PLC RECORDS N75 BILLION IN PROFITS, AND 44% GROWTH

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Access bank MDAccess bank Plc, one of Nigeria’s full service commercial bank, operating through a network of 371 branches and service outlets located in major centres across Nigeria, Sub Saharan Africa, and the United Kingdom with representative offices in China and the UAE has yet again delivered another strong and impressive financial performance.

In it’s audited full year results for the year ended December 31, 2015, released to the Nigerian Stock Exchange (NSE), the bank recorded a 44% growth in profit before tax to N75 Billion from N52 Billion in 2014.

Profit before tax (PBT) for the period rose to N75.0 Billion, representing a 44% growth when compared to N52.0 Billion. In the same vein, profit after tax climbed up to 53% in FY 2015 to N65.9 Billion from N43.1 Billion in FY 2014.

 

Also, Return On Average Equity (ROAE) of 20.4% in FY 2015, from 16.5% in FY 2014, indicative of the Bank’s commitment to maximising shareholder returns

 

Also, the board of Directors of the bank has proposed a final dividend of 30 kobo per share bringing the total dividend for the year to 55 kobo per share dividend for the 2015 audited year end.

 

Speaking on Access Bank’s financial performance, Mr Herbert Wigwe, GMD/CEO declared, “

 

“This year’s results reinforce our resolve to generate sustainable returns despite challenging market conditions. We achieved strong financial progress in 2015 as the Group recorded a 44% growth in profit before tax to ₦75 billion from ₦52 billion in 2014, with significant contribution from our securities trading business… In the coming year, we will remain resilient in the execution of our bold strategy for increased growth and profitability. Though market conditions will remain challenging, we will focus on innovation, proactive risk management and data analytics as catalysts for diversifying income streams and enhancing retail expansion, so as to maximize shareholder value in 2016 and beyond.”

ABOUT ACCESS BANK

 

Access Bank Plc. is a full service commercial Bank operating through a network of 371 branches and service outlets located in major centres across Nigeria, Sub Saharan Africa, and the United Kingdom with representative offices in China and the UAE.

Listed on the Nigerian Stock Exchange in 1998, the Bank serves its various markets through four business segments: Personal, Business, Commercial and Corporate & Investment Banking. The Bank has over 830,000 shareholders including several Nigerian and International Institutional Investors and has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last twelve years ranking amongst Africa’s top 20 banks by total assets and capital in 2015.

As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant.