Access Bank Performs Well In 1st Half

From left: Ade Ologun, Olumide Olatunji and Michael Gyabaah at the Ghana Stock Exchange

ACCESS BANK recorded a strong growth in its financial performance for the first half of the year, with a 16% and 12% growth in its net interest income and profit before tax respectively.

This was revealed at its annual “Facts behind the Figures” session, held virtually.

“Facts behind the Figures”, an event organised by the Ghana Stock Exchange for its listed companies, offers a platform for the companies to present their performance to key stakeholders, investors and the public through the media.

Managing Director of Access Bank, Olumide Olatunji, was elated at the growth trajectory of the bank and commended the impactful efforts made by staff to achieving this feat. He noted that the bank’s net interest income grew from 188 million to 218 million Ghana Cedis while profit before tax grew from GH¢193 million to GH¢216 million year-on-year. Mr. Olatunji also indicated that the bank is well positioned to maximise and return value to shareholders, while contributing its quota to Ghana’s development.

On the organisation’s outlook for the medium term, Mr. Olatunji hinted that the bank will continue to grow its retail banking, consolidate wholesale banking and further deepen its position on digitalization. The Bank will continue to explore digitally-led solutions to customers across multiple segments as it strives to deepen digitalisation towards a cash-lite society. These, he intimated, are being rolled out on the back of robust state-of-the-art security enhancing architecture. Incorporating advanced analytics to tailor products to customers’ needs and managing risks across multiple businesses and markets are key strategic focus of the bank in the medium term, and significant investments are being made to ensure this.

COO of the Bank, Ade Ologun, used the opportunity to assure customers and investors of the security measures put in place by the bank to ensure safety of customers’ assets and investments.

CFO of the Bank, Michael Gyabaah, also noted that, Access Bank has demonstrated a strong and disciplined growth over time which have well positioned it to return value to shareholders.

The highlights of this performance has contributed to the bank being recognised in various awards, including the 2020 ‘Global Financial Inclusion Award’ by the Banker Magazine, ‘Most Innovative Retail Banking Brand’, and best ‘CSR Bank’ in Ghana for the year 2020 by Global Brands as well as ‘Best Company in Customer Service’ by Ghana Customer Service Index (GCSI).