Wednesday, August 30, 2017 4:25PM / Proshare Markets
Access Bank Plc held its H1’17 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals.
The management of the bank in its IR presentation gave a group snapshot of the bank with some fundamental statistics provided. The bank currently has seven (7) subsidiaries and three (3) Rep offices; 3,854 professional staff with a male to female ratio of 54% to 46%; and a customer base of about 8m plus. The bank’s shareholders’ funds is put at N480bn and has an outstanding shares of 28.9bn.
The bank’s half year 2017 financial results revealed that it recorded 42% YoY growth in Gross Earnings; 21% growth in Net Interest Income; 29% growth in Operating Income; 18% growth in PBT and 17% growth in PAT while its cost to income ratio stood at 62.7% in H1 2017 from 58.4% in H1 2016.
The bank recorded stability in its asset quality which is reflective of its disciplined approach to risk management while its Capital Adequacy Ratio (CAR) increased to 21.6%, up 60bps from 21% in Dec’16, reflecting the Group’s robust capacity for growth.
In a nutshell, below are the key takeaways from the H1 2017 earnings presentation made by the bank’s management;
· The bank in its H2’17 corporate strategy outlook stated that it will conclude the development of and commence the implementation of the Group’s new 5 year (2018-2022) Rolling Plan.
· Subsidiaries’ contributed 25% to total Group deposits, largely made up of low-cost savings.
· FCY loans to total loans closed at 40% in Jun’17, down 200bps from 42% in Dec’16
· The bank’s liquidity Ratio improved 180bps y/y to 45.4% in Jun’17 (Dec’16:43.6%), reflecting the Bank’s improved ability to meet short-term obligations; and
· In H2’17, the bank will reinforce the implementation of its cost reduction initiatives in order to improve the bottom-line despite high inflationary environment.
1. Access Bank Plc Q2 2017 Results – Net Interest Income Down by 5.7% QoQ
2. Access Bank Plc H1'17 Earnings - FX Trading Income Masks OPEX Pressure, PAT Up 17% YoY
3. Access Bank Plc H1-17 Results: Impressive Top Line Growth Dashed by Change in AMCON Levy Treatment
4. Access Bank Reports Q2 2017 Results as PBT Declined Marginally by -3% YoY to N20.8bn
5. ACCESS Declares N39.46 billion PAT in Q2 2017 Results; Proposes 25k Interim Dividend ,(SP:N10.24k)ACCESS Board Approves Audited 2017 Half Year Results
7. Access Bank Plc Q1'17 Conference Call & Earnings Presentation - The Key Takeaways
8. ACCESS Declares N26.02 billion PAT in Q1 2017 Results,(SP:N6.40k)
9. Access Bank Plc holds 28th AGM, pays shareholders total dividend of 65k for 2016 FY
10. Access Bank Plc - Management to Continue Exploiting Opportunities in FX Derivatives
11. Access Bank Plc 2016 FY Conference Call & Earnings Presentation - The Key Takeaways
12. ACCESS declares N71.44 billion PAT in 2016 Audited Results; Proposes 40k Final Dividend,(SP:N6.48k)
13. Access Bank Posts N90.3bn Profit in 2016, Declares 40k Final Dividend
14. FO, Access Bank and Others Turn to the Bond Market
15. Access Bank Plc - Investment Case Still Strong Despite Raised OPEX
16. ACCESS declares N57.09 billion PAT in Q3 2016 Results,(SP:N5.70k)
17. Access Bank Plc Successfully Raises US$300m Eurobond
18. Access Bank Announces Exchange Offer and Minimum New Issue Yield
19. Access Bank Plc -Tapping the Eurobond Current
20. Access Bank to Raise New Euro Bond
21. Monetary Policy Committee Decision Review - Access Bank Plc