Access Bank Profit Jumps 53% in Half Year Period to June 2023

Access Bank Plc, a tier-One Nigerian lender reported a 53% jump in after-tax profit in the Half Year period to June 2023.

The bank which is one of the largest Nigerian banks by assets, reported profit of N135.4 billion up from N88.73 billion in the June 2022 period.

Access Bank saw both its net interest and fee income rise in the period.

The results did not include unrealised foreign exchange translation difference of N339.99 billion, which was filed under:  Items that may be subsequently reclassified to the income statement.

When the unrealised FX impact is included, Access Banks total comprehensive income for the period surged by 1,041 percent to N556.78 billion.