Skip to main content

Access Bank Records N381.3billion Income

Image
By

Access Bank Plc has released its audited results for the year ended 31 December, 2017,with total Income of N459.1 billion, representing an increase of 20 percent over N381.3 billion recorded in 2016. The growth in total income was mainly due to a 29 per cent increase in interest income at N319.9 billion in 2017,(representing 84% contribution).from N247.2 billion in 2016.
However, Profit Before Tax, PBT, declined by 11 percent to N80.1 billion in 2017,compared to N90.3 billion in 2016.This was due mainly to the adverse lingering effects of the macro factors on asset quality in the industry. Asset Impairment charges amounted to N34.47billion in 2017,compared to N21.95billion, in 2016.
Net Interest Income(Interest Income less Interest Expenses) grew by 17 percent ,at N163,452 billion in FY 2017, compared to N139,148 billion in 2016.
Non-Interest Income grew by five percent to N139.1 billion, in 2017 from N133.4 billion in 2016.l
The growth in the group’s Interest nIncome was boosted by an expansion in its core business of credit lending,as loans and advances grew 11 percent to N2,064 trillion in 2017, from N1,855 trillion in December 2016.
Total assets grew 18 percent to N4,102 trillion in December 2017, from N3,484 trillion in the corresponding period in 2016.
Additionally, the group recorded an increase of 13 percent in shareholder returns of N515 billion in December 2017, from N454 billion in 2016.
The Group proposes a final dividend of 40kobo per share to its shareholders, in addition to 25kobo interim dividend paid during the period, making a total of 65kobo for the financial year.
Labels:

Comments

Post a Comment

Popular posts from this blog

Yoruba names for some animals & birds

By
This contribution answers the many questions that have always appeared as search terms on this blog for a long time. Unfortunately, I’m not equipped to answer those questions about the names of birds, animals, rodents … Such questions started appearing since the posting of What’s in a name? – A look at Yoruba’s views of some birds’ names by Deleola Daramola in June 2013. The article, a very popular one, had a mere 431 total views during the seven months of that year but would subsequently attract 1,640 views (2014); 2,868 views (2015); 2,822 views (2016) and in 2017 to date, there have been 1,872 views – a grand total of 9,633 views. There have been questions about “Yoruba name for igun”; “… hoopo bird called in Yoruba”; “… aluko and agbe birds in Yoruba culture”; “the English name of eye akalamagbo”; “What is the English of eye kowe”, and many others. At the end of the list, there are a couple of references, and more can be found through Google. PLEASE NOTE: Spellings often dif...
Post a Comment
more »

Tiwa Savage Files For Divorce As Husband Tee Billz Relocates To The US

By
If the report making rounds is anything to go by, then the troubled marriage of music superstar Tiwatope Savage and her husband Tunji Balogun Teebillz  has finally crashed after all efforts to make it work failed. Their battle was first made public in May 2016 when Tiwa Savage washed her husband’s dirty linen in an emotional interview where she talked about his battle with hard drug and other issues affecting their marriage. Though she later reconciled with him, the two seem to have finally called it quit. According to a source, Tiwa Savage has started a divorce proceeding as her husband who’s been missing in action since late last year has secretly moved to the United States. Olatunji Balogun who was previously married to a lady in the UK reportedly left his first marriage to marry Tiwa Savage who was one of the artists he was managing then. Sadly, Tiwa Savage got carried away by love without watching for the red signals. Even though her relationship with Tee Billz was not...
Post a Comment
more »

Latest transfer gossip

By
AC Milan wants to sign up Álvaro Arbeloa, he plays as a right-defender. Source: Marca Donovan among group looking to buy Swansea. United States all-time top scorer Landon Donovan is now part of the American consortium that had a bid to buy Swansea City ratified Friday by the Premier League. Source: ESPN No FA approach for Klinsmann. A source has told ESPN there has been no contact from the English FA to U.S. Soccer over manager Jurgen Klinsmann. England is looking to replace manager Roy Hodgson after he resigned following the side's Round of 16 loss to Iceland. Source: ESPN Man City's Peres bid rejected Manchester City have seen an opening offer of £12.4 million for Torino right-back Bruno Peres rejected, with Watford also expressing an interest. Source: Gazzetta dello Sport Man Utd & Chelsea chase Diarra Manchester United and Chelsea have both tables offers for Marseille midfielder Lassana Diarra, joining Inter and Spartak Moscow in the race f...
Post a Comment
more »