Access Bank Plc posts 725.69% increase in profit for 2006 financial year.
July 3rd, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
Currently known as one of the banks scaling all hurdles in the industry, Access bank Plc recently released an impressive 2006 result for the year ended March 31, 2007.
In the result released, the bank grew turnover by 108 percent, from N13.36 billion the previous year to N27.88 billion in the said year. Also, profit before tax grew from N1.1 billion to N8.04 billion, thereby representing an increase of about 618 percent.
Post tax profit stood at N6.08 billion as against N0.73 billion the previous year, representing a growth of 725.9 percent.
The bank is presently on technical suspension as it has gotten approval of both the NSE and shareholders to raise N100 billion through a public offer.
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