Access Bank Grosses N337billion Revenue

Access Bank Plc, on Thursday, March 18, declared N337.404 billion gross earnings in its 2015 financial results released to the Nigerian Stock Exchange.

The bank’s gross earnings leaped by N92.021 billion translated to 37.50 per cent from N245.383 billion it made during the same period of 2014.

Access Bank result for 2015 showed that profit before tax stood at N75.038 billion, as it grew to N23.016 billion or 44.24 per cent from N52.022 billion, while profit after tax stood at N65.869 billion, growing at N22.893 billion, representing 53.27 per cent from N42.976 billion.

The strong year-on-year growth in profit before tax was driven by both revenue lines; funding income grew 23 per cent year-on-year while non-interest income grew 45 per cent year-on-year.

Its earnings per share increased from N185 kobo in 2014 to N262 kobo during the review period of 2015, indicating N77 kobo or 41.62 per cent increase.

Access Bank total assets increased by N487 billion from N2.104 trillion to end 2015 with N2.591 trillion.
Its liabilities also rose from N1.827 trillion during the 2014 financial year to N2.224 trillion at the end of 2015 showing a N397 billion increase.

The bank’s non-performing loans ratio dropped from 2.2 per cent it made in 2014 to 1.7 per cent at the end of 2015 financial year.