Access Bank Ghana records strong financial growth in third 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.

A statement issued by Access Bank Ghana, copied to the Ghana News Agency said the Bank had reported significant growth across key financial metrics, solidifying its position as a leading financial institution in Ghana in the face of prevailing economic uncertainties.

It said the Bank posted a remarkable surge in profit after tax, recording a 47.13 per cent year on year increase in quarter three, from GHS310 million to GHS456 million recorded at the same period in 2022.

It noted that this underscores the Bank’s resilience and ability to weather economic storms.

Speaking on the financial performance, Mr Olumide Olatunji, Managing Director of Access Bank Ghana, revealed that shareholders have witnessed a substantial increase in value, with earnings per share soaring by 113.01 per cent, 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 per cent from GHS167 million to GHS245 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,’ Mr Olumide said.

On the Bank’s operating income, Mr Olumide noted that there was a significant growth of GHS1 billion representing a 47.33 per cent increase attributing the overall performance to a growth in fees, commission, and other trading income.

Also commenting on the Bank’s performance, Madam Akosua Aboagye, Chief Finance Officer of the Bank, expressed satisfaction with the Bank’s performance.

She also emphasised the Bank’s dedication to contributing positively to Ghana’s economic growth.

‘This performance reflects our commitmen
t 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,’ Madam Aboagye said.

The statement 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: Ghana News Agency

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