Access Bank Records N122bn Profit, Grows 19% YTD

Access Bank

Nigeria’s fastest growing lender, Access Bank Plc, increased its topline by 19 percent year -to-date from N102.3billion in nine months ended September 2020 to N121.9billion in the period ended September 30, 2021. Profit before Tax in the review financial period stood at N135.07bilion compare with N116.6billion recorded in the nine months period ended September 30, 2020.

Access Bank’s Group audited financial performance in nine months according figures obtained from the Nigerian Exchange Limited (NGX) showed that revenue grew by 24.4 percent YTD from N317.7billion as of nine months in 2020 to N395.2billion as of nine months ended September 30, 2020.

Revenue was buoyed by net interest income which grew by 37 percent from N196.3billion in nine months ended September 2020 to about N268billion in nine months of 2021. Fee and commission income also increased appreciably to N114billion as against about N88billion as of nine months in 2020.

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