When people thought they had seen the best from Access Bank Plc, the financial institution has continued to break new grounds and over barriers as its Group Managing Director/Chief Executive Officer, Mr. Herbert Wigwe is not resting on the bank’s laurels. H is constantly thinking of how beat his own best record and he is sure doing well. At least the result is there for all to see. And should the bank continue on this path, many believe it looks certain to, Wigwe look certain to take the bank to the N200 billion PAT full year 2021 result is declared.
The bank at the weekend delivered strong results in the first quarter (Q1) ended March 31, 2021 despite the challenging operating environment.
According to the results, the bank recorded gross earnings of N222.1 billion, which was an increase by six per cent, from N2029.8 billion posted in the corresponding period of 2020. Profit Before Tax (PBT) rose by 30 per cent to N60.1 billion, from N46.2 billion, while Profit After Tax (PAT) grew by 28 per cent to N52.6 billion compared with N40.9 billion in 2020 on the back of a 13 per cent growth in operating Income and a 16 per cent reduction in interest expense.
Commenting on the results, Group Chief Executive Officer of Access Bank Plc, Mr. Herbert Wigwe, said the performance shoed the strong capacity of their business to generate sustainable earnings on the strength of their balance sheet, diverse revenue streams and their dedicated people.
In line with its aggressive expansion drive, Access Bank recently entered into a definitive and binding agreement with ABC Holdings Limited to acquire 78.15 per cent shareholding in the African Banking Corporation of Botswana Limited (BancABC Botswana).
No doubt leadership is key to the success or failure of any institution. the story of Access Bank is a testament to a highly cerebral and focused leadership over the years. Aig Imoukhuede the former Managing Director, to Wigwe, it is story of soaring success.
