Modupe Gbadeyanka
By Modupe Gbadeyanka
The board of Access Bank Plc has announced the financial statements of the lender for the period ended September 30, 2018.
The firm released the third quarter earnings to the Nigerian Stock Exchange (NSE) on Monday and a brief look at it by Business Post indicated a mixed performance.
For example, while the profit before tax dropped by 3.62 percent to N70.3 billion from N72.9 billion in the same period of last year, the profit after tax grew by 11.55 percent to N62.9 billion from N56.4 billion.
In the results, the interest income appreciated to N274.5 billion from N245.9 billion, while the net interest income grew to N123 billion from N121.5 billion.
According to Access Bank, the net interest income after impairment charges rose to N114.6 billion from N108.7 billion, with the fee and commission income jumping to N43.5 billion from N38.8 billion.
The lender also said in its financial scorecard that it recorded gains on investment securities at N75.1 billion against the N41.2 billion loss declared in Q3 2017.
However, there was a loss in the foreign exchange (forex) income in the period under review, which was at N29.6 billion in contrast to the N116.5 billion gained exactly 12 months ago.
Business Post reports that the earnings per share (EPS) of Access Bank grew to N2.18k in the first nine months of this year from N1.97k in the same period of last year.
View the full results below
