Fixed Income Analysis /

ACCESS BANK: A welcome improvement on Q4

    Tolu Alamutu
    Tolu Alamutu

    Credit Research Analyst, Banks

    Tellimer Research
    27 April 2018
    Published byTellimer Research
    Access Bank reported net income of NGN22.1bn for Q1. This was slightly lower than the restated figure for a year ago, and c15% lower yoy, before restatements. Having said that, performance was much better than in Q4 17, when a very significant rise in provisions meant that Access Bank’s net result fell to less than NGN6bn.