The Group’s gross earnings was up by 43% to N1.39 trillion from N971.89 billion reported in 2021, driven by strong growth in interest income.
However, Profit before tax dropped by 5% to N167.68 billion as against N176.58 billion posted in 2021.
According to the bank, net interest income rose by 19.32% to N359.63 billion from N301.41 billion in 2021.
The result is coming on the back of volatile economy typified by rising inflation and other economic headwinds.
The state’s statistics agency attributed the jump in prices of food, housing, fuel and gas, among others, even as the figure shows a consistent increase in inflation rate for the last two years.
ALSO READ:For Capital Needs Supplement, Access Holdings Injects $300m Into Access Bank
The Board of Directors proposed final dividend of N1.30k per ordinary share of 50 Kobo each on the 35,545,225,622 issued ordinary shares of 50k each payable to shareholders on the register of shareholding at the closure date. Withholding Tax will be deducted at the time of payment.
Gross earnings
2022 FY: N1.39 trillion
2021 FY: N971.89 billion
Change: +43%
Net interest income
2022 FY: N359.63 billion
2021 FY: N301.41billion
Change: +19.32%
Other Operating Expenses
2022 FY: N341.32 billion
2021 FY: N232.21 billion
Change: +46.98%
Pre-tax profit
2022 FY: N167.68 billion
2021 FY: N176.58 billion
Change: -5%
Net Profit after tax
2022 FY: N152.20 billion
2021 FY: N160.22 billion
Change: -5%
