Access Holdings grew its pre-tax profit (PBT) by 0.4 percent in the first half of the year, rising to N97.8b from N97.38b in the same period in 2021, the bank said in a statement released to the Nigerian Exchange Limited.
While the group recorded a “decent growth” in Pre-provision operating profits, a rise in Loan loss provisions dampened its impact on earnings growth, Coronation Research noted in its notes to clients on Thursday. It said the growth in pre-provision operating profits was driven primarily by Non-Interest Revenues, specifically Trading revenues.
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The net profit figure translates to Earnings Per Share of N2.52, out of which the board proposed an interim dividend of N0.20, down from N0.30 it gave for the same period last year.