The company ended the year with over 58 million customers across the extensive network of subsidiaries and business verticals.
News Agency of Nigeria
Access Holdings Plc has announced gross earnings of ₦1.39 trillion for the 2022 financial year.
The company disclosed this in its Consolidated and Separate Financial Statement for the year ended Dec. 31, 2022, released on Thursday in Lagos.
The gross earnings represented an increase of 43 percent when compared with ₦971.88 billion recorded in the corresponding period of 2021.
The company attributed the growth in gross earnings to the dividends of organic and inorganic activities across the ecosystem.
However, its profit before tax of stood at ₦167.68 billion, representing a 5.04 percent year-on-year decline against ₦176.58 billion realized in 2021.
The News Agency of Nigeria (NAN) reports that the Board of Directors is proposing a final dividend of ₦1.30 per share bringing the total dividend for the financial year 2022 to ₦1.50k.
The statement said that the company showed strong growth across revenue lines, despite the strong macroeconomic headwinds locally and internationally.
“We registered a record revenue of N1.4 trillion, a 43 per cent year-on year growth (FY’21:₦971.9) as we begin to see the dividends of organic and inorganic activities across the ecosystem.
“Access Holdings Plc recorded a profit before tax of ₦167.7 billion, five percent year-on-year decline (FY’21: ₦176.6bn) following huge write downs from the Ghana sovereign debt crisis.
“Overall, Interest Income grew 37 per cent year-on-year to ₦827 billion, driven by a strong loan book growth despite the high inflationary environment.
“Net loans and advances to customers grew by 25 per cent across the banking group, with deliberate focus on credit disbursement to critical segments and growth sectors of the economy,
“We also saw a good growth across the subsidiaries, in particular the UK (up 36 percent to ₦1.1 trillion in 2022),’’ it said.
The statement also said that the company ended the year with over 58 million customers across the extensive network of subsidiaries and business verticals.
It added that the company assets base grew to ₦15.0 trillion and customer deposits to ₦9.25 trillion, with CASA, mix up by five percent, to 63 percent as a result of leveraging innovation, digital technology, and financial inclusion to mobilize sustainable low-cost deposits.
“In the second half of 2022, Access Holdings Plc completed the divestment from Pensions Custodian business and acquired significant shareholding in First Guarantee Pensions Ltd. and Sigma Pensions Ltd. to form Access Pensions Ltd.
“This combination resulted in the creation of the fourth largest PFA in Nigeria, with asset under management of ₦0.9trillion, putting us clearly in the league of strategic players in the Pensions industry,’’ it said.
The statement also said that the company’s payment business went live with the switching business in the third quarter of 2022, while the other areas of the business would become fully operational from the second quarter of 2023.
“The overall business outlook for 2023 remains strong as we begin our new five year strategic journey which aims to make us one of the top five financial services organisation in Africa by 2027,’’ it said.
Follow Our Activities On Facebook
56 minutes ago
4 hours ago
18 hours ago
#BigBrotherNaija “Level Up” Week 6
Though last Sunday Sunday was meant to be a “no-eviction” day, it came as a shocker when fake housemate, Modella…
Dating in 2022; Situationships Are Not For The Fainthearted
Situationships are defined as that space between a defined relationship and something other than a friendship. It is a romantic…
20 Questions With Dinta Media’s Visual Storyteller, Chimeremogo Nwoke
Dinta Media is not really just a media production brand but we like to see ourselves as a hub for…
How Are Nigeria’s Small Businesses Coping?
The current rising rate of inflation and other burdens against the Nigerian economy speaks to the realities of the times.
Thrifting Is All The Rave Now, Here’s Why
By Amy Adindu The affordable clothing movement has gained global attention and acceptance as we’re all trying to look like…
#BigBrotherNaija “Level Up” Week 2
Week 2 of the highly watched Nigerian TV show kicked off with an early plot twist. On Sunday, Big Brother…
#BlueTunes: Burna Boy, Omah Lay Top Album Picks For July
July was a promising month for music lovers; from Lizzo’s album titled Special and Imagine Dragons’ Mercury, (Acts 1 &…
#BlueTunes Album Picks For June
Gbagada Express – Boj Bolaji Odojukan, popularly known as BOJ, was raised both in England and Nigeria. He shot to…
“A Creative’s Dream” with Jeff Chinonso
On the 26th of June 2022, Jeff Chinonso hosted his first solo art exhibition. The Augmented Reality exhibition themed “A…
Nigerian API-based company Thepeer raises $2.1 million
Tech infrastructure startup Thepeer has raised a $2.1 million seed round according to a report from TechCabal. Thepeer, a Nigerian…
Dika Ofoma, Ugochukwu Onuoha take on grief in Debut Film “The Way Things Happen”
The twenty-minute film focuses on the loss of a loved one, and how grief changes a person.
Nigerian Startups might just be Crippled by a Recently Leaked bill
Over the years there has been talks of amendment on the 2007 Act of the National Information & Technology Agency (NITDA).
Why We Love Kelechi Amadi Obi
The definition of talent is Kelechi Amadi’s iconic story. Imagine a person who studies law in school, gets called to Bar, and leaves it all for something different and unrelated…Painting!