Access Bank Plc has released its 2021 full-year financial result, as it recorded a profit of N160 billion in the year. This reflects a 51.13% increase year-on-year.
The bank also reported earnings per share of N4.58, a 52.16% growth from the N3.01 reported a year earlier in 2020. Access Bank Plc has grown its profits by 167% in 4 years since hitting N60 billion in 2017 with the profit now touching roughly N160 billion.
The statement revealed that in FY 2021, its Net interest income grew by 14.64% from N262.95 billion to N301.46 billion within the same period under review. Access Bank’s profit performance is on the back of all margin growth as income from interest, trading income and fees and commission income all appreciated year on year.
Meanwhile, the Bank has empowered 100,000 Access Closa Agents to provide more than banking services to old and new customers in its mission to serve at least one in every two Nigerians, meaning half the 206 million population.
The Closa Agents are spread across the 774 councils nationwide and have helped the bank expand access to finance and banking services to millions of both the unbanked and the underbanked.
Access Bank also uses Closa Agents to provide alternate streams of income for Micro, Small, and Medium-Sized Enterprises (MSMEs), promote financial literacy and advance its ambition to bank at least 103 million Nigerians by 2025.
Retail Banking Executive Director Victor Etuokwu said the growth of the agent network fulfills the bank’s promise to ensure easier and safer access to financial services.
“As a bank driven by innovation, we must deliver better outcomes for customers in terms of speed, security, and service to enhance the customer experience in all the locations that we operate,” he explained.
“With the recent achievement of hitting a 100,000 milestone of Access Closa Agents, customers and non-customers of the bank who are travelling for business, events, or to visit loved ones in any location in Nigeria will continue to enjoy uninterrupted banking services as our Closa agents are available in several rural and semi-urban locations across the country.”
With additional reports from Nairametrics and The Niche
Join our WhatsApp Group to receive news and other valuable information alerts on WhatsApp.