Earnings Report /
Nigeria

Access Bank: Q2 21 – Strong profits on higher net interest income and lower taxes

  • Q2 21 profits increased 71% yoy, outperforming our estimate. Profitability also improved yoy, with ROE rising to 17.6%

  • Transitioning into a holding company has been delayed to H2 22, but pan-African expansion remains intact

  • Reiterate Buy on retail banking momentum and growing profit contribution from outside-Nigeria subsidiaries

Busola Jeje
Busola Jeje

Junior Research Analyst

Tellimer Research
14 September 2021
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