Friday, April 28, 2017 3:15pm / Proshare Markets
Access Bank Plc today held its Q1’17 Investors and Analyst Conference Call Earnings Presentation. Proshare NG participated along with leading market analysts and professionals.
The bank stated that GDP growth rate in Q1’17 is forecasted to improve by 50bps to -0.8% following the upward trend which started in Q4’16 as the expected recovery is largely driven by growth in oil & gas and agriculture sectors.
Furthermore, the bank stated that the naira strengthened aggressively by about 22.5% in the parallel market to N390/$ on March 31st compared to N490/$ at the beginning of the quarter. At the interbank, the local unit was relatively stable around N305/$ as the CBN intervention largely impacted the FX liquidity squeeze consequently leading to market convergence.
The bank’s gross earnings grew by 44% YoY to N115.9bn in Q1’17. This was driven by increase in interest income and non-interest income respectively during the period.
The bank’s cost of risk was relatively flat at 0.7% and its NPL ratio at 2.2% while the bank’s capital adequacy ratio (CAR) was at 21%.
In a nutshell, below are the key takeaways from the Q1’17 earnings presentation made by the bank management;
- The bank continued to maintain the size of its loan book.
- The bank’s liquidity ratio at 46.3% is far above CBN set target.
- The bank’s net exposure to Arik Air is put at N5bn.
· The bank plans to intensify migration and utilization of channels and e-banking platforms to drive transaction income.
1. ACCESS Declares N26.02 billion PAT in Q1 2017 Results,(SP:N6.40k)
2. Access Bank Plc holds 28th AGM, pays shareholders total dividend of 65k for 2016 FY
3. Access Bank Plc - Management to Continue Exploiting Opportunities in FX Derivatives
4. Access Bank Plc 2016 FY Conference Call & Earnings Presentation - The Key Takeaways
5. ACCESS declares N71.44 billion PAT in 2016 Audited Results; Proposes 40k Final Dividend,(SP:N6.48k)
6. Access Bank Posts N90.3bn Profit in 2016, Declares 40k Final Dividend
7. FO, Access Bank and Others Turn to the Bond Market
8. Access Bank Plc - Investment Case Still Strong Despite Raised OPEX
9. ACCESS declares N57.09 billion PAT in Q3 2016 Results,(SP:N5.70k)
10. Access Bank Plc Successfully Raises US$300m Eurobond
11. Access Bank Announces Exchange Offer and Minimum New Issue Yield
12. Access Bank Plc -Tapping the Eurobond Current
13. Access Bank to Raise New Euro Bond
14. Monetary Policy Committee Decision Review - Access Bank Plc
15. Access Bank Plc Announces the Retirement of Mr. Oritsedere Samuel Otubu as a Non-Executive Director
16. Access Bank Reiterating Outperform Rating After Strong Q2’16 Results
17. ACCESS BANK Half-Year Earnings Presentation: The key takeaways
18. Access Bank Plc Impressive Earnings Beat Estimates, PAT Up by 26% YoY
19. Access Bank NPLs to Total Gross Loans Stand at 1.9% in H1'16 As Against 1.7% in 2015
20. ACCESS declares N39.49 billion PAT in Q2 2016 Result Proposes 25kobo Interim Dividend SP N5.34k
21. Access Bank Plc to Submit Half Year Audited Financials Not Later Than 31st August 2016
22. Access Bank anticipates the MPC will retain the existing FX policy regime
23. Inflation to Moderate Downwards to 15.4% in June 2016 - Access Bank Plc