A Review of the Nigerian Energy Industry

Access Bank hailed over impressive results

13 December 2014, Lagos – Access Bank Plc has attracted accolades from the Publisher/CEO of EMEA Finance Magazine, Christopher Moore  for its impressive 2014 nine months results and its general dealings in the nation’s capital market.
In a period when many companies including banks, reported poor results, Access Bank Plc  grew  gross earnings by 17 per cent and profit by 28 per cent. The bank’s gross earnings rose from N155 billion to N187 billion, while profit after tax grew by 28 per cent from N27.5 billion to N35 billion.
Commemorative naira noteSpeaking at the  EMEA Finance award ceremony  held in London,  where Access Bank emerged as the Best Local Bank in Africa, Moore said, “Access Bank’s interim results show impressive growth not just in income and profit, but also in the bank’s loan portfolio and deposit base.”
Presenting the award to Access Bank, Editor of EMEA Finance Magazien, Mr. Time Burke said  “These accomplishments are testament to a strong management team and business. Additionally, we are impressed with the bank’s capital markets activity, which includes the bank’s second international bond issuance raising $400mn and its upcoming rights issue.”
Recognising the difficulty in achieving the feat that the bank has recorded, he added  that Access Bank competed in a very tough market..
“Nigerian banks are among the most innovative and dynamic in Africa, and in many other areas are global leaders and fast adopters. It is a pleasure to recognise Access Bank as our best local bank for 2014,” he said.
Access Bank said in a statement that  Head, Brand and Strategic Management of the bank, Mr. Amaechi Okobi, who received the award,  thanked  magazine for recognising and celebrating the humble dealings of the bank.
“This award is a testament to the proactive and innovative approach to banking that Access Bank has adopted. While many might see it as a call to celebrate, we see it as a call to push further. Our promise is to deliver excellent services with lightning speed and on a secured platform and we will not disappoint,” he said.

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