Access Bank PLC, one of the leading tier 2 banks said its gross interest income for the first half of 2016 rose to NGN112 billion from NGN98.8 billion the bank recorded in the first half of 2015.
Net interest income also performed better than last year rising to NGN68,4 billion compared to NGN48,1 billion recorded last year.
Access Bank should serious efficiency in its strategy to make money from fees and commission. The bank increased revenue from the item by 108% to NGN35,6 billion compared to NGN17,1 billion reported in the first half of 2015. The bank also cut down expenses on fees drastically to NGN57,4million. This is a far cry from NGN302 million spent last year.
Net profit for the period rose by 105.9% to NGN70,1 billion versus NGN34,0 billion recorded last year.