Access bank Q1 profit jumps by 34% via loan book clean up

Access Bank

Access bank plc in its financial report for first quarter 2017 show that its interest income increased to NGN79.3 billion compared to NGN59.3 billion recorded same period 2016.

Its interest expense for the period was NGN36.5 billion in contrast to NGN20.8 billion recorded in 2016.

Net interest income after impairment charges for 2017 rose to NGN39.5 billion from NGN32.2 billion recorded in the year before. While its impairment charges rose NGN3.1 billion against NGN2.3 billion recorded in 2016.

Access bank recorded NGN31.2 billion profit before tax in the year in review against NGN22.5 billion recorded in fiscal year 2016,after settling its tax for the period, its profit for the year rose 34% by to NGN26.0 billion against NGN19.4 billion recorded in the year 2016.

Access bank plc said that it acquired NGN3.5 trillion assets in 2017 against NGN3.4 trillion recorded in the year before. While its liabilities stood at NGN3.0 billion as it were in 2016.

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