With an asset base of over NGN3
trillion, ACCESS remains one of the
biggest banks in Nigeria. Its expanded branch network has contributed to the
growth it has achieved.
Deposit expansion trails loan
expansion. Therefore, it has raised $300 million Eurobond and commercial papers
of NGN35 billion in the year in a bid to shore up its capital and take
advantage of opportunities in the countries where it operates.
We believe that the decision of
the management to explore the retail market will drive cost of funds down and impact
the bank's net interest margin positively going forward. Revenue from this
segment jumped by 38.7% in 2016 compared to 33.6% of 2015. However, it accounts for only 17.2% of total
revenue and 3.1% of total assets. Its contribution to total PBT is 13%; PBT
margin is 17.9%, up from 1.8% of the preceding period.
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