Nigeria: Half Year Earnings Accelerated by Access Bank

Access Bank’s after-tax profit was 63 billion naira (approximately 173.8 million USD) in the first half of 2019, compared to 39.6 billion at June 30, 2018, an increase of 59%.

According to the Nigerian bank’s financial statements published by the Lagos Stock Exchange (NSE), pre-tax profit increased by 61.6 percent to 74.1 billion naira during the reporting period. For its part, earnings per share increased from 1.38 naira in June 2018 to 1.94 naira a year later.

As a reminder, the bank is buying this year the activities of its competitor Diamond Bank Plc, which will increase its size and redistribute the cards in the Nigerian banking market.

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