Access Bank slash NPLs by 14% YoY
Access Bank on a year-on-year basis strengthened its loan asset quality by reducing non-performing loans (NPLs) from 26.08 percent in Q3 2020 to 12.99 percent in Q3 2021.
The significant reduction in the bank’s NPLs is indicative of the fact that loan recovery strategies being used by the bank are effective.
A perusal of the bank’s Q3 2021 Financial Statement further reveals that the bank at the end of Q3 2020 posted a net profit of Ghs 231 million, an increase of Ghs 5 million when compared to the Ghs 208 million net profit recorded in Q3 2020.
Accounting for the recorded Q3 2021 net profit for the review period was the bank’s net interest and operating incomes which grew from Ghs 291 million to Ghs 341 million and Ghs 462 million to Ghs 496 million in Q3 2020 and Q3 2021 respectively.
With the posted net profit, earnings per each share owned by shareholders amounts to Ghs 1.23 pesewas.
In terms of total assets, the bank witnessed some Ghs 1.3 billion increase in its assets value for the review period.
Value of Access Bank’s total assets value rose from Ghs 5.4 billion in Q3 2020 to Ghs 6.7 billion in Q3 2021, driven mainly by the bank’s holdings of government securities as the value of its investment securities increased to Ghs 2.5 billion from the previous value of Ghs 1.7 billion.
Total liabilities for the period under review also saw increase of Ghs 1.1 billion.
Accounting for the Ghs 1.1 billion rise in the bank’s liabilities were deposits from customers and other banks which rose from Ghs 3.7 billion to Ghs 4.2 billion and Ghs 57 million to Ghs 481 million in Q3 2020 and Q3 2021 respectively.
Examine details of financial statement below:
Access 2021 q3 Financials Qtr by Fuaad Dodoo on Scribd
