Earnings Report

Q1:2024 Earnings Update | ACCESSCORP | Core Banking Income Sets the Stage

May 3, 2024
Read Time: 1 minute(s)

In its Q1:2024 financial statements, Access Holdings Plc posted a 129.20% and 148.03% YoY growth in Gross earnings and Profit before Tax to NGN974.24bn and NGN202.74bn respectively. The performance was mainly driven by impressive returns on interest income.

Interest Income climbed 183.07% YoY to NGN719.60bn while non-Interest revenue grew 39.86% YoY to NGN254.64bn. On the other hand, Operating Expenses rose by 86.46% YoY to NGN279.31bn as personnel expenses, regulatory expenses and IT and e-business expenses rose sharply in the period. Overall, Net Profit Margin slipped 54bps to 16.35% in Q1:2024.

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Q1:2024 Earnings Update | ACCESSCORP | Core Banking Income Sets the Stage

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