BUSINESS

Access Bank Grows Profit By 51.13% To N160.2b In 2021

Access Bank Plc, a Nigeria’s leading bank has released its audited consolidated and separate financial statements for the year ended 31 Dec 2021with 51.13% growth in group profit for the year to N160.216 billion from N106.010 billion in 2020.

Group gross earnings rose by 27.09 to N971.885 billion from N764.717 billion in 2020.

The bank said its Board of Directors had proposed Final Dividend of 70 Kobo per ordinary share of 50 Kobo each (FY2020: 55 Kobo) each on the 35,545,225,622 issued ordinary shares of 50k each payable to shareholders on the register of shareholding at the closure date.

The Board of Directors had earlier paid an interim Dividend of 30 Kobo per ordinary share of 50 Kobo each (HY2020: 25 Kobo) each on the 35,545,225,622 issued ordinary shares of 50k each payable to shareholders on the register of shareholding at the closure date.

The Bank’s principal activities include the provision of money market products and services, retail banking, granting of loans and advances, equipment leasing, corporate finance and foreign exchange operations.

The bank’s subsidiaries include Access Bank (Gambia) Limited, Access Bank (Sierra Leone) Limited, Access Bank (Zambia) Limited, The Access Bank (UK) Limited, Access Bank (Ghana) Plc, Access Bank (Rwanda), Access Pension Fund Custodian Ltd, Access Bank (D.R. Congo), Access Bank (Guinea), Access Bank (Mozambique), Access Bank (South Africa), Access Bank (Kenya) and Access Bank (Botswana). The Bank also had Diamond Finance B.V, an offshore Special Purpose Vehicle used for the issuance of the U.S.$50,000,000, 7.25 Per Cent participatory Notes which was due in 2021, guaranteed by Access Bank. The notes had matured as at year end and have been fully repaid. The SPV has been liquidated as at year end. The Bank also operates a Representative office in China, Lebanon and India. The Access Bank (UK) Limited operates a branch in United Arab Emirates (UAE).

ALSO READ  NCC Commends 9mobile For Promoting Digital Skills Among Youth

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button