WorldStage Newsonline– Access Bank Plc, a leading bank in Nigeria on Friday released its consolidated and separate financial statements for the period ended 30 June 2020 with gross earnings of N396.757 billion a growth of 22.31% from N324.376 billion in Q2 2019.
The result published on the Nigerian Stock Exchange Q2Access showed that profit after tax for the period declined by 1.36% to 61.035 billion from N61.87 4 billion in Q2 2019.
The bank has however proposed to pay an interim dividend of 25k for every share of 50k to shareholders whose names appear in the register of members as at the close of business on Thursday, 17th September, 2020
According to the bank, the register of shareholders will close on Friday, September 18, 2020 while dividend will be paid electronically on Monday September 28, 2020.
The bank said it received 681,505 complaints during the period involving N17,862,484,407 claims as against 1,492,080 complaints involving N453,225,455,706 claims in Q2 2019, while 605,224 complaints involving N226,637,642 were resolved as against 1,410,439 involving N451,894,264,843 in Q2 2019.
“We diligently track complaint information for continuous improvement of our processes and services. An independent review of the root cause of complaints made is carried out and lessons learnt are fed back to the relevant business units to avoid future repetition. Customer complaint metrics are analysed and reports presented to Executive Management and the Operational Risk Management,” the bank said
The Bank was incorporated as a private limited liability company on 8 February 1989 and commenced business on 11 May 1989. The Bank was converted to a public limited liability company on 24 March 1998 and its shares were listed on the Nigerian Stock Exchange on 18 November 1998. The Bank was issued a universal banking license by the Central Bank of Nigeria on 5 February 2001.
The Bank’s principal activities include the provision of money market products and services, retail banking, granting of loans and advances, equipment leasing, corporate finance and foreign exchange operations.
The Bank has these subsidiaries: Access Bank (Gambia) Limited, Access Bank (Sierra Leone) Limited, Access Bank (Zambia) Limited, The Access Bank (UK) Limited, Access Bank (Ghana) Plc, Access Bank (Rwanda), Access Pension Fund Custodian Ltd, Access Bank (D.R. Congo) and Access Bank Guinea which was incorporated in December 2019. The Bank also has Diamond Finance B.V, an offshore Special Purpose Vehicle used for the issuance of the U.S.$50,000,000, 7.25 Per Cent participatory Notes which is due in 2021, guaranteed by Access Bank.
The Bank also operates a Representative office in China, Lebanon and India. The Access Bank (UK) Limited operates a branch in United Arab Emirates (UAE).
Investors reacted positively to the Access Bank result at the stock market on Friday as the price appreciated by 0.25% to 6.65 by midday with 326 transactions involving 26,445,242 shares valued at N174,576,723.25.
