The Management and Board of Access Bank Plc have released its Half-Year financial results for the period ended 30th June 2019. Below are the snippets of the financial analyses done by Financial Metrics Nigeria.
Access Bank grew its gross earnings from N253.02 billion in Q2 2018 to N324.38 billion in Q2 2019. This shows a growth performance of 28.20%.
The bank recorded Profit Before Tax (PBT) of N74.12 billion in Q2 2019, compared to N45.84 billion in Q2 2018. The bank’s Profit Before Tax was greatly impressive.
Financial Metrics Nigeria reports that the merger and acquisition with defunct Diamond Bank also contributed to this. The Profit Before Tax appreciated by 61.69% in the Half-Year financial earnings.
The Profit After Tax (PAT) rose from N39.63 billion in Q2 2018 to N63.02 billion in Q2 2019. This indicates an impressive performance growth rate of 59.02%.
Access Bank Earnings Per Share (EPS) rose from N1.38 to N1.94. The EPS appreciated by 40.58% for the period under review.
Total Impaired Loans and Advances To Gross Risk Assets increased from 4.7% to 6.43%. Whist the Total Impaired Loans and Advances grew from 101.34 billion to N109.25 billion.
Financial Metrics Nigeria reports that Access Bank Total Assets rose from N4.56 trillion in Q2 2018 to N5.93 trillion in Q2 2019. This shows a growth performance of 30.04%.