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Business News of Friday, 6 March 2020

Source: www.mynigeria.com

Access Bank gains 2.6% increase in profit for full-year 2019

Access Bank Access Bank

Access Bank Plc has released its Consolidated and separate financial statements for the year ended December 31st, 2019. The financial statements demonstrate positive figures across all sectors. The breakdown of the report is shown below:

Gross earnings: Access Bank generated N666.7 billion in gross earnings as at December 2019, compared to N528.7 billion recorded as at the end of the 12 month period of 2018. This represents a 26% increase in gross earnings.

Profit Before Tax: As at the end of the fourth quarter of December 2019, the lender recorded N115.3 billion as profit before tax, up from N103.1 billion recorded at the end of December 2018. This represents an increase of 11.8%.

Profit After Tax: The bank recorded a profit of N97.5 billion for the 12-month period of 2019, compared to N94.9 billion recorded at the end of December 2018, representing a 2.6% increase in profit after tax.

Earnings Per Share: Earnings Per Share for Access Bank stood at 2.90 kobo for Full-year 2019, down from N3.31 kobo recorded as at the end of the December 2018.