Access Bank Declares N72.9b Pre-tax Profit in 9 Months
By Modupe Gbadeyanka
One of the big five lenders in Nigeria, Access Bank Plc, on Thursday released details of its financial statements in the first nine months of 2017 to the Nigerian Stock Exchange (NSE).
The financial institution reported a profit before tax (PBT) of N72.9 billion in the period under review against the N68.9 billion it achieved in the corresponding period of 2016.
In addition, the bank’s profit for the period slightly increased, closing at N56.4 billion in contrast to N54.1 last year.
In the financial results, Access Bank recorded an interest income of N245.9 billion in the period under review versus N181.2 billion last year, while the net income interest closed at N121.4 billion against N106.4 billion a year ago.
Also, the lender’s net foreign exchange income stood at N116.5 billion as at September 30, 2017 versus the N53.7 billion loss declared on September 30, 2016.
Furthermore, the total assets grew to N3.54 trillion as at September 30, 2017 from N3.48 trillion as at December 31, 2016.