Access Bank Assures Customers Of Robust Services
- Gross earnings hit N528.744bn mark
BY CHINYERE OBIORA, LAGOS – Chairman of Access Bank Plc, Mosun Belo-Olusoga says the bank will continuously strengthen governance practices and enhance monitoring capacity to better serve its customers and shareholders’ needs.
She also disclosed that the bank updated its quarterly governance returns with the regulators as part of measures to promote accountability and transparency in its processes.
Belo-Olusoga, who addressed shareholders in Lagos, said the Bank has achieved diversification in its services due to consistency in embracing new trends and market changes.
According to her, Access Bank has, over the years, implemented strategies based on strong governance metrics to remain profitable and sustainable in the industry.
She said; “in building the gateway for a sustainable Africa, we are connecting customers to diverse opportunities in a way that enables them prosper and thrive inspire of the risks and uncertainty inherent in today’s world.”
The Chairman said the bank’s merger with Diamond bank will ensure increased staff strength; improved business operations; and higher customer retention.
She also explained that the Bank’s human resources department is developing a culture that would ensure it produces the very best the industry can offer.
She said the bank group gross earnings grew by 15.2 per cent to N528.744 billion from N459.075 billion reported in the preceding year.
Profit before tax increased by 32 per cent to N103.187 billion compared to N78.169 billion recorded within the same period in 2017 while profit after tax went to N94.981 billion from N60.087 billion, representing a surge of 58.1 per cent.
Further analysis of the bank’s group result indicates that customer deposits which stood at N2.244 trillion in the preceding year move upward to N2.564 trillion, increasing by 14.3 per cent while net Loan and advances grew from N2.064 trillion to N2.136 trillion.
Its total assets also inched from N4.102 trillion in the preceding year to N4.594 trillion at the end December 31, 2018, indicating growth rate of 20.8 per cent while shareholders fund down by 4 per cent to N490.511 billion from N511.195 billion
