Access Holdings Plc reports profit of N57bn in Q1 2022

…Deposits from customers grow by a whopping 7.76 per cent to N7.49 trn

Access Holdings Plc, has released its Q1 2022 financial result, which reveals a profit of N57.40 billion in Q1 2022. This reflects a 9.23 percent increase year on year.

The group also reported earnings per share of N1.63, a 9.40 per cent growth from the N1.49 reported a year earlier in Q1 2021. Access Bank Plc has grown its Q1 profits by 160 per cent in 4 years since hitting N22 billion in Q1 2018 with the profit now touching roughly N57.40 billion.

The statement revealed that in Q1 2022, Net interest income declined by 7.03 per cent from N93.96 billion to N87.36 billion in the current period. Access Holdings’ profit performance is on the back of margin growth as income from interest, foreign exchange gains and fees and commission income all appreciated year on year.

Access Holdings Plc last traded at N9.85 per share and its market capitalization stands at N350.12 billion as of Wednesday, April 28, 2022. Year-to-date performance shows that the share price of the company has appreciated by 5.91 per cent.

The bank’s Board of Directors proposed a final dividend per share of N0.70 per share, to be paid on each of the 35,545,225,622 issued ordinary shares and payable to shareholders on the register of shareholding at the closure date.