By Ikechukwu Emelike
The Board of directors of Access Bank plc has announced an unaudited profit before tax of N13.5 billion for its third quarter ended December 31, 2007. In the result just made public, the Bank recorded an improvement in its financial results relative to the corresponding period last year as its profit before tax grew from N4.30 billion in 2006 to N13.15 billion in 2007 indicating an increase of 206 percent. Its gross earnings rose by 145 percent to N41.89 billion in 2007 from N17.13 billion in 2006, while profit after tax stood at N9.00 billion in 2007as against N3.2 billion which it recorded in the same period last year signifying an increase of 177 percent.

According to the Bank its performance is attributed to its expanded customer base, new business and product line which have led to increased transaction level. The bank which is ranked amongst Nigeria’s leading Banks has recorded capital appreciation in its stocks to the tune of about 230 percent since it went public to close at N23.00 at the end of trading at the Nigerian stock exchange on the 31^st of December 2007.

(No Ratings Yet)

 Loading ...

This entry was posted on Saturday, January 26th, 2008 at 8:23 pm and is filed under Stock Market News. You can follow any responses to this entry through the RSS 2.0 feed. Tags: Access bank
You can leave a response, or trackback from your own site.