recorded substantial growths in incomes and profitability in the first half with gross earnings rising by 59 per cent to N940.3 billion within the six-month period.
Top-line analysis showed that gross earnings increased from N591.80 billion to N940.31 billion. Earnings per share thus improved from N2.52 in first half 2022 to N3.74 in first half 2023. The headline growth was driven by driven by a combination of 63 per cent growth in interest income and 51.9 per cent increase in non-interest income.
He said Access Holdings’ synergies across its business verticals yielded remarkable results as shown by growths in incomes and balance sheet of the group. He outlined that the group’s pensions business surpassed the N1.0 trillion in assets under management milestone, thereby ranking as the fourth largest pension fund administrator by AUM and the second largest by the number of registered retirement savings accounts .
Wigwe noted that the group’s regulatory ratios displayed a robust liquidity position and capital adequacy, surpassing regulatory thresholds with a liquidity ratio of 50 per cent and a capital adequacy ratio of 19.1 per cent.