Access Bank offers 25 kobo interim dividend, amidst profit slide

Access Bank Plc, on Wednesday, presented its financials for the half-year ended June 30, 2013, highpoint of which was the offer of 25 kobo interim dividend per share for payment to shareholders whose names appear in the register as of September 4. Dividend warrants will however be posted on September 17, 2013.

The dividend was however despite the 20 per cent drop in profit after tax from N26.443 billion in the corresponding period of 2012 to N21.097 billion.

Gross earnings for the period also dropped to N104.127 billion from N109.959 billion; while profit before tax fell to N 26.090 billion from the previous N30.206 billion, representing a drop of 14 per cent.

The bank’s loans and advances portfolio grew by 13 per cent from N604.073 billion to N684.698 billion; total assets stood at N1.719 trillion from N1.745 trillion; just as customer deposit rose by 7 per cent from N1.201 trillion to N1.279trillion. Shareholders’ funds however rose slightly from N232.983 billion in 2012 to N239.938 billion.

Meanwhile; trading on the floor of the Nigerian bourse continued its downward movement on Wednesday when equities capitalisation closed lower at N11.510 trillion after depreciating by N67.509 billion as against N11.577 trillion recorded on Tuesday. The All-Share Index also slipped by 213.17 basis points or 0.50 per cent to close at 36,345.33 points compared with 36,558.50 points recorded on Tuesday.

[Daily Independent]

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