Finance

Access Holdings’ gross earnings hit N1.4tn

Access Bank GMD buys 50 million additional shares

Financial institution, Access Holdings Plc, has grown its gross earnings by 42.30 per cent to N1.4 trillion in the 2022 financial year from N971.88billion reported the previous year.

This was disclosed in its Consolidated and Separate Financial Statements for the year ended 31 December 2022, which was released on Thursday.

The appreciation in its gross earnings, according to the bank, is evidence of the dividends of organic and inorganic activities across the ecosystem.

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However, Access Holdings Plc. recorded a Profit Before Tax of N167.68 bn, representing a 5.04 per cent year-on-year decline against N176.58bn realised in 2021.

Its profit for the year dropped to N152.20bn from N160.21bn recorded in the previous reporting year. However, its Total Comprehensive income for the year rose to N233.23bn in 2022 from N125.51bn in 2021 representing an 85.82 per cent appreciation.

According to the bank, net interest income rose by 19.32 per cent to N359.63 billion from N301.41 billion in 2021. Its Other Operating Expenses grew by 46.98 per cent to N341.32 bn from N232.21 bn in 2021.

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In value to its shareholders, the Board of Directors proposed a final dividend of N1.30k per ordinary share of 50 Kobo each bringing the total dividend for the financial year 2022 to N1.50k subject to withholding tax as well as the approval of shareholders.

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Punch

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