Earnings Update | ACCESS | H1:2020

Access Bank Plc (ACCESS)’s gross earnings growth moderated to 22.31% YoY in H1:2020 (from 31.02% in Q1:2020) due to a relatively weak second quarter outing. Interest income underperformed in Q2:2020 by 29.15% YoY due to a 14.99% decline in investment securities and lower investment assets yield. The growth (+191.45% YoY to NGN150.03bn) in non-interest was however sufficient to push gross earnings up 22.31% to NGN396.76bn. The group’s robust and growing retail business has proved invaluable in shielding fee-based income from adverse regulations as fee-based income (net) grew 8.16% YoY to NGN4.59bn.

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ACCESS H12020 Earnings Update


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