Access Holdings, a tier-one Nigerian lender, reported a 300 per cent surge in after-tax profit to N612.49 billion in its Full Year 2023 results, the last period for which late CEO, Herbert Wigwe was at the helm.
This is the largest profit ever posted by the company and presided over by the late Herbet Wigwe.
In the financial statements, Access Corporation posted a Gross Earnings of N2.6trillion up 80 per cent from the N1.4 trillion reported a year earlier.
Access saw growth at both net interest incomes of N555.8 billion and net fee income of N207.7 billion revenue lines while fair value gains on non-hedging derivatives, equity investments and Fixed income securities brought in a further N512.3 billion.
Earnings Per Share (EPS) surged to N17.23 in FY 2023, compared to N4.29 in 2022.
A significant portion of the revenue came from fair value and foreign exchange gain of about N628.9 billion compared to N335.5 billion reported a year earlier.
Access Holdings will pay a final dividend of N1.80 Kobo (One Naira, Eighty Kobo) for every ordinary share of N0.50 Kobo each, subject to appropriate withholding tax (bringing the Total Dividend for 2023 Financial Year to N2.10 Kobo (Two Naira, Ten Kobo).
