Access Bank proposes 40 kobo final dividend Increases profit by 11.8%

ACCESS Bank Plc has declared a final dividend of 40 kobo per share, bringing he total dividend payout for the financial year ended December 31, 2019, to 65 kobo per share, after it declared an interim dividend of 25 kobo per share for the half-year June 30, 2019.

In its released its audited financial statement for full-year 2019, submitted to the Nigerian Stock Exchange (NSE),

Access Bank Plc showed  significant improvement in most of its performance indicators as it increase its profit by 11.8 per cent.

The profit before tax for the group for full-year 2019 stood at N115.38 billion as against the N103.2 billion that was recorded for the corresponding period in 2018. This represents an 11.8 per cent increase.

The profit after tax for the group for full-year 2019 stood at N97.5 billion as against the N94.98 billion which was achieved in a similar period in 2018. This represents a 2.7 per cent increase.

The gross earnings as at December 31, 2019, stood at N666.75 billion as against the N528.74 billion which was recorded for the corresponding period for 2018. This shows a 26.10 per cent increase.

The net interest income for full-year 2019 was N277.2 billion as against the N173.6 billion, which was recorded for the corresponding period for 2018. This represents a massive 59.7 per cent increase.

The bank’s net fee and commission income for full-year 2019 stood at N74.05 billion as against the N52.5 billion for the corresponding period for 2018. This represents an impressive 41 per cent increase.

The bank’s balance sheet shows that there was a massive jump in loans and advances to customers. The financial statement shows that loans and advances to customers as at December 31, 2019, stood at N2.9 trillion as against the N1.9 trillion which was recorded in the corresponding period of 2018. This represents a 46.04% increase.

Deposits from customers as at December 31, 2019, stood at N4.25 trillion as against the N2.56 trillion which was recorded for the corresponding period in 2018. This represents an impressive 65.9 per cent increase.

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