Access Bank declares N39.6bn profit, 25k interim dividend for H1 ’18
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
Access Bank Plc has declared a profit after tax of N39.625 billion and also offered an interim dividend of 25 kobo per share, amounting to N7.23 billion in its half year financial results submitted to the Nigerian Stock Exchange (NSE) Wednesday.
The bank recorded gross earnings of N253.024 billion as against N246.575 billion in the corresponding period of 2017.
Total income stood at N186.686 billion, representing an increase of 15.3 percent over N161.905 billion recorded in the corresponding period of 2017, while net interest income grew to N85.296 billion from N83.042 billion in the comparative period of 2017.
Meanwhile, net impairment charge went down to N7.34 billion in 2018 from N10.363 billion in 2017.
Loans and advances to customers dropped to N1.905 trillion from N1.996 trillion, while deposits from customers also declined to N2.409 trillion as against N2.245 trillion in 2017.