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Access Bank Reports N97.5bn in 2019

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  • Access Bank Reports N97.5bn in 2019

Access Bank Plc, Nigeria’s largest bank by customer base, on Friday reported a profit after tax of N97.509 billion for the financial year ended December 31, 2019.

In the financial statements released through the Nigerian Stock Exchange (NSE), the lender grew profit after tax from N94.981 billion in the same period of 2018 to N97.509 billion in 2019. Gross earnings rose from N528.744 billion recorded in the corresponding period of 2018 to N666.753 billion in 2019.

Profit before tax stood at N115.378 billion in the year under review, up from the N103.187 billion filed in 2018.

The bank grew total comprehensive income for the year from N78.433 billion in 2018 to N99.319 billion in 2019.

Total equity rose from N490.511 billion in 2018 to N610.192 billion in 2019.

While the bank proposed and paid interim dividend of 25 Kobo per ordinary share of 50 Kobo each on the 35,545,225,622 issued ordinary shares of 50k each payable to shareholders on the register of shareholding at the closure date, the board of director recommended a final dividend of 40 kobo per ordinary share of 50 kobo each for the year.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.