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Access Bank Plc Q1'17 Conference Call & Earnings Presentation - The Key Takeaways

Proshare

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. 

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