By Financescape
Access Bank plc one of the leading Banks in Nigeria has released its Half-year Audited financial statement for the period ended June 30, 2019. The group’s gross earnings increased by 27% to N324.375 billion from N253.024 billion in the corresponding period in 2018.
Net interest income increased by 81.90%% to N155.146 billion in Q2 2019 from N85.296 billion in Q2 2018. the Fee and commission income for the period increased by 24.80% from N30.066 billion to N37.529 billion in Q2 2019.
However, the Net gains on investment securities decreased significantly from N59.564 billion in 2018 to 4.145 billion in 2019.
The Operating Expenses have increased by 25.5% from N98.210 billion to N123.30 billion in Q2 2019, loan loss expenses decreased by 33.5%. also, the personel expenses have increased by 19.78% in Q2 2019.
Profit Before Tax up by 61.7%% to N74.115 billion in June 2019 from N45.842 billion in 2018.
Profit for the period increased by 59% to N63.024 billion in 2019 from N39.625 million in the corresponding period of 2018.
Diluted Earning per share has increased from 135 kobos to 190 kobos from 413 kobos.
The Board of Directors of the Bank is proposing an interim dividend of 25 kobos per ordinary share subject to deduction of appropriate withholding tax and regulatory approval, The dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on September 23, 2019.
