{"id":18577,"date":"2017-10-26T16:28:31","date_gmt":"2017-10-26T15:28:31","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18577"},"modified":"2017-10-26T16:28:31","modified_gmt":"2017-10-26T15:28:31","slug":"access-bank-grows-q3-earnings-n365bn","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/access-bank-grows-q3-earnings-n365bn\/","title":{"rendered":"Access Bank Grows Q3 Earnings to N365bn"},"content":{"rendered":"

Despite the challenging operating environment, Access Bank Plc, one of the leading tier one bank, has announced its third quarter (Q3) results <\/a>for 2017 which reflect the Bank\u2019s ability to generate sustainable earnings.<\/p>\n

The full service commercial bank with headquarters in Nigeria, has its other operations across Sub-Saharan Africa, the UK, Asia and the Middle East,<\/p>\n

According to the bank\u2019s financial statement presented to the Nigerian Stock Exchange (NSE) on Thursday, the results for the nine months ended 30 September 2017 showed 33% growth in gross earnings year-on-year from \u20a6275 billion to \u20a6365 billion, driven primarily by the strong performance on core revenue lines.<\/p>\n

Overall, the Group delivered increase in pre-tax profits from \u20a669.0 billion in September 2016 to \u20a672.9billion in September 2017 and closed the period with a 4% year-on-year growth in profit after tax. Profit after Tax (PAT) grew to \u20a656.4 billion in 2017 from \u20a654.1 billion in 2016.<\/p>\n

Commenting on the Bank\u2019s performance in Q3 2017, Group Managing Director\/CEO, Herbert Wigwe said, \u201cWe continue to gain momentum in our efforts to achieve more diversified earnings, as we strengthen our retail and digital offerings. I am excited at the prospects in the coming months.\u201d<\/p>

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He noted that the reporting period marks the last quarter in the last year of the 2013 \u2013 2017 strategic period adding that the Bank remains committed to improving the quality of its balance sheet.<\/p>\n

He stated that \u201cThe Board and Management remain extremely grateful to our more than 8 million customers, shareholders and dedicated employees for enabling us achieve several milestones within this period. We look forward to the next five years, with confidence in our ability to deliver superior service and optimised shareholder value,\u201d Wigwe stated.<\/p>\n

Furthermore, the Bank\u2019s Q3 performance showed that operating costs reduced significantly by 18% quarter-on-quarter to \u20a649.5 billion in September, reaffirming the Bank\u2019s commitment to rein in costs and improve operating efficiency. Capital and liquidity buffers of 20.5% and 46.0%, respectively, are well above the minimum regulatory requirement.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the challenging operating environment, Access Bank Plc, one of the leading tier one bank, has announced its third quarter (Q3) results for 2017 which reflect the Bank\u2019s ability to generate sustainable earnings. The full service commercial bank with headquarters in Nigeria, has its other operations across Sub-Saharan Africa, the UK, Asia and the Middle …<\/p>\n","protected":false},"author":6,"featured_media":16887,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[793,36,740,1206,575],"coauthors":[2391],"class_list":["post-18577","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-access-bank","tag-cbn","tag-nse","tag-pencom","tag-sec"],"yoast_head":"\nAccess Bank Grows Q3 Earnings to N365bn - National Wire<\/title>\n<meta name=\"description\" content=\"Despite the challenging operating environment, Access Bank Plc, one of the leading tier one bank, has announced its third quarter (Q3) results for\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/access-bank-grows-q3-earnings-n365bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Access Bank Grows Q3 Earnings to N365bn - 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