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Access Bank reports N152.90bn net profit, proposes N46.20bn dividends



Access Bank gets CBN's nod to acquire Kenya’s Transnational bank

Access Holdings Plc, the parent company of Access Bank, recorded N152.90 billion net profit for the period of 2022, earnings report released on Thursday disclosed.

This is a -4.49 per cent decline when the N152.90 billion profit after tax is compared to the N160.09 billion net profit posted in the same period in 2021.

Access Holdings’ profit before tax was down as well during the period in review, falling by 5.04 per cent to N167.68 billion, which is N8.9 billion lower than the N176.58 billion reported in the preceding year.

The company’s 42.8 per cent growth in gross earnings failed to save Access Holdings’ net profit depreciating between January to December 2022.

According to the consolidated and separate financial statements for the year ended December 31, 2022, the gross earnings closed last year with N1.38 trillion.

Read also:Access Bank updates forex application for school fee, upkeep, others

This means the annual turnover of Access Holdings in 2022 is N416.02 billion more than the N971.88 billion generated by the financial institution in 2021.

Meanwhile, the Board of Directors of Access Holdings proposed a final dividend of N1.30 kobo per share for its shareholders for the financial period of 2022.

Ripples Nigeria learnt that the final dividend of N1.30 kobo is worth N46.20 billion, which will be shared among its shareholders holding 35.54 billion shares.

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