Access bank plc posts 17% rise in profit for half year

Access Bank

Access bank plc in its financial report for the half year 2017 is reporting 17% rise in profit to NGN39.4 billion compared to NGN33.6 billion recorded in the same period in the year 2016.

The bank ended the quarter with NGN83.0 million interest income in contrast to NGN68.4 billion in the previous year while impairment charges was NGN10.3 billion against NGN10.2 billion in the year before.

Access bank said its total assets for the period was NGN3.4 trillion worth of assets compared to NGN3.4 trillion acquired in the year 2016 while total liabilities was NGN2.9 trillion against NGN3.0 trillion in the year 2016.

The bank said its net impairment charge for the period slightly rose to NGN10,3 billion compared to NGN10,2 billion in 2016.

For the first half of the year, Access Bank said it paid NGN241 million as litigation expenses compared to NGN193 million paid last year.

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