Banking & Finance

Access Bank posts first-ever GHC1bn in profit before tax

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Access Bank Ghana Plc, a leading retail Bank in Ghana, has published its robust financial performance for the fiscal year ending 2023, marking a significant milestone in its journey of growth and resilience, further solidifying its path towards achieving its strategic goals.

The bank recorded an outstanding increase in Profit Before Tax (PBT) compared to the previous year, surpassing GHS1 billion for the first time in its history.

This remarkable achievement reflects Access Bank Ghana’s unwavering commitment to excellence and its ability to navigate through challenging economic landscapes.

Key highlights of the financial results include a remarkable 40% growth in Total Operating Revenue, reaching GHS1.613 billion from GHS1.150 for same period in 2022, and a substantial 22.3% growth in Total Assets from GHS10.057 billion in the previous year to GHS12.304 billion in 2023, reinforcing the bank’s financial stability and capacity to support various sectors of the Ghanaian economy.

Reflecting on the exceptional performance, Mr. Olumide Olatunji, Managing Director of Access Bank Ghana, credited the success to the enduring trust and confidence bestowed upon the bank by its valued customers and stakeholders.

He underscored the bank’s strategic focus on diversification, innovation, and dedicated customer service to meet evolving customer needs while maintaining a disciplined approach to expansion and business operations.

Mr. Olatunji reiterated Access Bank’s dedication to excellence in both retail and wholesale banking sectors.

He highlighted strategic initiatives including credit card offerings, SME financing, and the establishment of strategic desks for priority segments such as French and Lebanese desks, all poised to be instrumental in advancing Access Bank’s strategic growth agenda.

These endeavors are strategically aligned to reinforce Access Bank’s position as the Most Respected Bank in Ghana.
Providing further insights, Ms. Akosua Biama Aboagye, Chief Finance Officer of Access Bank Ghana, affirmed that the impressive results align closely with the bank’s long-term strategic growth objectives.

She emphasized Access Bank’s ongoing investments in key operational areas to enhance efficiency, service quality, and sustainable value creation for shareholders and stakeholders alike.

Operating through an extensive network of 55 branches nationwide, Access Bank Ghana remains dedicated to serving diverse customer segments across more than 10 regions with innovative and flexible banking solutions.

The bank’s commitment to excellence has garnered recognition, including accolades of the Best Bank from the Euromoney Awards and Global Finance Awards, reaffirming its position as a leading advocate for SMEs and a trailblazer in sustainable finance.

Access Bank Ghana’s remarkable financial performance in 2023 underscores its resilience, agility, and unwavering commitment to driving economic growth and fostering financial inclusion in Ghana.

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