Access Bank Ghana records strong financial growth in 3rd quarter of 2023

Access Bank Ghana Plc has demonstrated its resilience and commitment to financial excellence by delivering impressive financial results in the third quarter of 2023.
The Bank has reported significant growth across key financial metrics, solidifying its position as a leading financial institution in Ghana in the face of prevailing economic uncertainties.

The Bank posted a remarkable surge in profit after tax, recording a 47.13% year on year increase in quarter three, from GH¢310 million to GH¢456 million recorded at the same period in 2022.

This underscores the Bank’s resilience and ability to weather economic storms.

Speaking on the financial performance, Managing Director of Access Bank Ghana, Olumide Olatunji revealed that shareholders have witnessed a substantial increase in value, with earnings per share soaring by 113.01%, rising from GHS1.23 to GHS2.62 in the period under review.
This growth reflects the Bank’s commitment to delivering superior value and returns to shareholders and customers.

“Our Bank’s commitment to national development is evident in our taxpayment for the period. Our tax to government increased by 47.13% from GH¢167 million to GH¢245 million at the end of the third quarter of 2023.

“The Bank continues to play a crucial role in supporting the public purse, highlighting its dedication to the broader economic landscape,” Olumide said.

On the Bank’s operating income, Olumide noted that there was a significant growth of GH¢1billion representing a 47.33 % increase attributing the overall performance to a growth in fees, commission, and other trading income.

Also commenting on the Bank’s performance, Chief Finance Officer of the Bank, Akosua Aboagye, expressed satisfaction with the Bank’s performance. She also emphasized the Bank’s dedication to contributing positively to Ghana’s economic growth.

“This performance reflects our commitment to the growth of the Ghanaian economy and our interest in bringing value to our shareholders. Our aim as always, is to provide financial solutions to every Ghanaian.

“It also reflects our commitment to bringing value to shareholders. We remain poised to exceed expectations, foster sustainable development, and elevate our impact on both the financial industry and the communities we serve,” Akosua said.

Access Bank remains committed to ensuring that shareholders, customers, and staff enjoy a more-than-banking experience.

The Bank presently operates through more than 700 branches and service outlets in 20 countries, including the UAE, UK, and France, and three representative offices in China, India, and Lebanon.

Source:zedmultimedia