Access Bank records 43percent profit
Access Bank has posted a strong financial position for the first half of 2022, recording 26% growth in total assets, 28% growth in loans and advances and 7.8% growth in customer deposits.
The bank also recorded significant growth in its financial performance, posting a 30.4% and 43.8% increase in total operating income and profit before tax respectively.
Managing Director of Access Bank, Olumide Olatunji attributed the Bank’s impressive performance to the strong and disciplined growth, diversified business model and robust risk management framework which have positioned it to return value to shareholders.
He noted that the half year results reinforce the bank’s commitment to generating sustainable returns amidst challenging market conditions. Olumide stated that Access Bank is on course with its retail dominance agenda and keeps championing an expansion drive to ensure customers have easy access to banking services on and offsite.
“The opening of our 54th branch at the Accra Technical University recently, demonstrates the Bank’s focus on expansion and determination to bring banking close to the doorstep of customers. We have also outdoored our agency banking services to make banking available to the ordinary person on the street through agents in the respective communities they reside”, he noted.
Olumide thanked the Board, management and staff for their commitment to making Access Bank a respected global bank.
He also thanked shareholders for the continuous confidence they repose in the Bank. Press Release 1 st August, 2022 He announced that the Bank has been recognized for championing SMEs advancement and its commitment to the communities of operation, through the various interventions it has made.
“Access Bank has been adjudged the Most Innovative SME Banking Brand and Best CSR Bank in 2022 by Global Brands Awards while the Global Finance Awards has adjudged Access Bank as Best Bank and Sustainable Finance for 2022”.
The Chief Finance Officer for Access Bank Ghana, Michael Gyabaah said, providing digital led solutions to customers is key to Access Bank’s agenda of becoming the world’s most respected African Bank Michael noted.
“As our Bank strives to deepen digitalization towards a cash lite society, we have incorporated advanced analytics to tailor products to customers’ needs while we manage risks across multiple business and markets in the medium term”.
Operating from 54 business locations across the country, Access Bank continues to build solid long-term relationships with customers based on trust, digital innovations, good customer service and transparency.
The Bank has over the years developed a deep understanding of customers, delivering excellent services and empowering them to achieve more through financial inclusion.