Home Business Access Bank posts strong performance in first quarter

Access Bank posts strong performance in first quarter

Economics Bank Performance
Bank Performance

The Access Bank has recorded an impressive growth in its financial performance for the first half of the year.

It recorded a net interest income growth from GH¢188 million to GH¢218 million, while profit before tax grew from GHS 193 million to GHS 216 million year-on-year.

The strong performance represents a 16 and 12 percent growth in its net interest income and profit before tax respectively.

Mr Olumide Olatunji, Managing Director of the Bank, disclosed this at its annual “Facts behind the Figures” session which was held virtually.

The “Facts behind the Figures”, is an event organized by the Ghana Stock Exchange for its listed companies to present their performance to key stakeholders, investors and the public through the media.

Mr Olatunji was elated at the growth trajectory of the bank and praised the impactful efforts made by staff for achieving the great feat.

He reassured that the Bank was well positioned to maximize and return value to shareholders, while contributing its quota to accelerate Ghana’s developmental agenda.

On the Bank’s outlook for the medium term, Mr Olatunji hinted that the Bank will conscientiously grow its enviable retail banking, consolidate wholesale banking and deepen its position on digitalization to sustainably improve its customer experience.

“The Bank will continue to explore digitally led solutions to customers across multiple segments as it strives to deepen digitalization towards a cash lite society”, he assured.

The move, according to Managing Director, were being rolled out on the back of robust state-of-the-art security enhancing architecture.

“The Bank is also incorporating advanced analytics to tailor products to customers’ needs and manage risks across multiple businesses, as markets are key strategic focus of the Bank in the medium term with significant investments”, he added.

Mr Ade Ologun, the Chief Operating Officer assured customers and investors of the security measures put in place by the bank to ensure safety of customers’ assets and investments.

Mr Michael Gyabaah, Chief Finance Officer, assured of the Bank’s demonstrated performance to bring return on investments to shareholders and stakeholders.

That, he said had contributed to the Bank being recognized in various awards including the 2020 “Global Financial Inclusion Award” by the Banker Magazine, “Most Innovative Retail Banking Brand”, and best ‘CSR Bank” in Ghana, for the year 2020 by Global Brands as well as Best Company in Customer Service by Ghana Customer Service Index (GCSI).

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