Access Bank Plc has announced its audited results for the half year ended June 30, 2016 with profit before tax and profit after tax surging by 28 per cent and 26 per cent respectively.
The lender’s Profit Before Tax (PBT) was up by 28 per cent to N50.0 billion in the period from N39.1 billion in H1 2015 while Profit After Tax (PAT) for the half year stood at N39.4 billion, compared to N31.3 billion in H1 2015. To this end, the management and board of Access proposed an interim dividend of N0.25 kobo per share.
In the first six months of the year, the bank’s gross earnings rose by three per cent to ₦174.0 billion in H1 2016 from ₦168.3 billion in H1 2015.
Interest income climbed 14 per cent y/y to ₦112.3 billion in H1 2016 from ₦98.9 billion in H1 2015, benefitting from steady income growth from the bank’s core business and a 14 per cent y/y reduction in interest expense.
