Finance
Access Bank Generates N210b in Nine Months
- Access Bank Generates N210bn Income in Nine Months
Access Bank, top Nigeria leading lender, announced a 70.98 percent increase in net interest income to N210.21 billion for the period ended September 2019.
This was higher than the N122.94 billion generated during the same period of 2018.
The bank’s profit before tax grew by 31.84 percent to N103.104 billion, up from N70.268 billion recorded in the corresponding period of 2018.
Profit after tax rose by 32.16 percent from N62.911 billion achieved in the same period of 2018 to N90.739 billion in the first nine months of 2019.
Earnings per share were N2.79 at the end of the third quarter, up from N2.18 in the third quarter of 2019.
Access Bank was approved by the Competition Authority of Kenya to acquire Kenya’s Transnational Bank on Friday following the acquisition of Diamond Bank earlier this year.
Despite the bank’s recent debt challenges, it continues to grow through broad customer reach and competitiveness.
The bank’s presence in Kenya will help deepen its growth on the continent and further operations.