Access Bank records 168.8% profit growth in 2012

The Nigerian Stock Exchange on Wednesday published the fourth quarter (Q4) 2012 result of Access Bank Plc with a profit after tax (PAT) after minority interest of N1.878 billion in Q4 and N35.304 billion in the full year, a growth of 168.8 per cent.

 

The report further showed that Access bank recorded an interest income decline in Q4 by 4.6 per cent to N38.469 billion, but grew by 52 per cent in full year to N161.437 billion.

 

Moreover, income from other sources declined by 16.4 per cent to N7.504 billion in Q4, but grew by 59.2 per cent in full year at N46.810 billion.

 

The bank made provisions of N10.007 billion in Q4 which translated to a total of N10.791 billion for the full year, a 14.3 per cent increase against the previous year.

 

Source: WorldStage Newsonline