Business

2023FY: Access Holdings’ Profit Rises By 335% To N729 Billion, Records N26.7 Trillion Total Assets

Access Holding Plc, on Wednesday reported N729 billion profit before tax (PBT) in its financial results and accounts for the full year ended December 31, 2023, a significant increase of about 335 percent from the N167.68 billion reported in 2022.

The group on the Nigerian Exchange Limited (NGX) declared N619.3billion profit in 2023, the last financial year in which the late Group CEO, Dr. Herbert Wigwe was at the helm of affairs. This represented an increase by 307 percent compared with the N152.2 billion reported in 2022.

The significant increase in profits was driven largely by the Central Bank of Nigeria (CBN) unification of foreign exchange.

In the 2023 financial year, the Group also reported N628.93 billion foreign exchange gain, a growth of 87.44 percent from the N335.55 billion reported in 2022.

Access Holdings also 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.

Its Earnings Per Share (EPS) surged to N17.23 in 2023, compared to N4.29 in 2022. Access Holdings proposed to pay a final dividend of N1.80 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.

However, the balance sheet position revealed that Access Holdings declared N26.7 trillion in total assets in 2023, a growth of 78 percent from the N14.99 trillion reported in 2022.

Key drivers included N15.3 trillion deposits from customers in 2023, a growth of 65.6 percent from N9.25 trillion in 2022 and N8.04 trillion loans and advances to banks in 2023, an increase of 58 percent from N5.1 trillion reported in 2022.

Wigwe died February 9th, in a chopper accident that also took the life of his wife, Chizoba; son, Chizi and Bimbo Ogunbanjo, 61, who was a former President of the National Council of the NGX Group Plc in California, USA.

The Board of Directors of Access Holdings on February 13 had announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer of the Company following Wigwe’s tragic demise.

Pioneer Group Managing Director/CEO of Access Bank Plc., Mr. Aigboje Aig-Imoukhuede, was recently appointed Chairman of Access Holdings.

Wigwe owned 2.58 billion direct and indirect shares in Access Holdings, equivalent to 7.27percent of the bank as at the end of 2023.

Access Holdings shares closed trading at N24.00 per share, as of March 27, 2024, up 3.67percent year-to-date, with a market capitalisation of N853 billion.

Kayode Tokede

Follow us on:

AriseNews

View Comments

  • it's legal and approve by the federal government of Nigerian opportunities to get a car of your choice at a minimum price E-AUCTION E-AUCTION E-AUCTION E-AUCTION E-AUCTION Some Auction Vehicles/Cars For Sale
    Mama Africa #17,000 •Tomatoes Rice # *15,000* •Cap Rice #15,000 •My Food #17,000 •Mama Gold #17,500 •Ade Brazil #15,000 •Elephant Gold #15,000 •Royal Umbrella #15,000 Etc.
    Golf3= 400,000
    Golf 4 500,000
    Camry Tinny-Light=500,000
    Tundra 1,300,000
    Toyota Exterra=850,000
    Toyota Camry big daddy=650,000
    Toyota Venza= 1.7million
    Toyota Avalon=850,000
    Camry spider 950,000
    Toyota Rav4=950,000
    Toyota Prado=1.3million
    Muscle 1mill
    TOYOTA HILUX=2million
    Toyota Sienna=850,000
    TOYOTA 4-RUNNER=950,000
    Toyota Corolla=650,000
    Toyota Matrix= 700,000
    Toyota Highlander=950,000.........1.2m
    Toyota Picnic=500,000
    Tacoma 1.850,000
    Toyota Hiace Bus=950,000
    Toyota Tundra=1.5million
    Toyota Sequola=900,000
    BMW 5-series=1.960,000
    BMW 3-series=1.640,000
    BMW X6=2.670,000
    Ford Edge=700,000
    Ford Escape=600,000
    Honda Elantra=600,000
    Honda Baby-Boy=700,000
    Dyna Truck 900k
    TIPPER Head 6mill

    Honda Accord=550,000
    Honda CRV=650,000
    HONDA CIVIC=500,000
    HONDA EVIL-SPIRIT=750,000
    HONDA ODYSSEY=500,000
    Honda Pilot=850,000
    Nissan pathfinder=800,000
    Nissan Amanda=750,000
    Infinity=950,000
    Benz C250=N1.300,000
    Benz C300=1.6MILLION
    Benz ML350=2 million
    Benz ML300=1.5 million
    Benz ML550=2.6million
    Mercedes-Benz C-Class ₦1.3Million
    Mercedes-Benz E-Class ₦1.8Million
    Mercedes-Benz GLK ₦3.Million
    Es330 1.6m
    Lexus C5 350=950,000
    IS250 1m
    Lexus Rx300=1.2 million
    Lexus Rx330=1.5 million
    Is350 2mill
    Gx470 1.8mill
    Lexus Rx350= 2 million
    ES350 2mill
    Land Rover Discovery ₦3.2Million
    Land Rover Freelander ₦3.6Million
    Land Range Rover Sport ₦4Million
    Range rover vogue 3.8m
    Acura MDX ₦1.8Million
    Pequot 206=350,000
    Pequot 406=470,000
    Pequot 607=650,000
    .....
    ((08132115039) (+234_915__6089_111)

Recent Posts

Victor Okhai: Trump’s Presidency Could Be a Game-Changer, Cause Nigeria To Look Inward And Break Free From Foreign Aid Dependency

Victor Okhai has argued that Trump’s presidency could encourage Nigeria to reduce foreign aid reliance…

49 mins ago

Equatorial Guinea Suspends Officials Involved In Sexual Misconduct In Government Offices

Equatorial Guinea's VP has announced the suspension of officials involved in sexual misconduct within government…

55 mins ago

IGP Egbetokun Orders Investigation Into Treatment Of Minors In Police Detention

Following outrage over the arraignment of minors, IGP Egbetokun has directed a probe into minors’…

1 hour ago

Voting Begins in US Presidential Election As Trump And Harris Face Off

Americans are headed to the polls to choose the next president in a tightly contested…

3 hours ago

Court Dismisses Case Against Protesters Charged Over Protests, Releases Minors Charged With Treason

An Abuja court has struck out the case against #EndBadGovernance protesters as the AGF discontinued…

4 hours ago

Britain Detects Two Additional Cases Of New Mpox Variant, Total Reaches Three

The UK has confirmed two more cases of the new mpox variant, clade Ib

5 hours ago