Fixed Income Analysis /
Nigeria

ACCESS BANK: A welcome improvement on Q4

    Tolu Alamutu
    Tolu Alamutu

    Credit Research Analyst, Banks

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    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.