Access Bank shares attract investors as price rises

Mazi 3 years ago Foreign Exchange

Access Bank Plc has continued to attract investors as its share price increases 65.8percnt year-to-date (Ytd).

The bank, which reported 2016 earnings of 3.99 per share in March, opened the year at N5.87 per share and closed N9.73 per share on the Nigerian Stock Exchange on July 17, 2017. The bank focuses on its strategic objective of improving profitability to shareholders.

Analysis of the bank’s share performance showed that investors raise wagers in 76.5 million shares of the bank on June 14, 2017 as its share price rose to N10.11, from N5.79 a year ago.

In July 11, 2017, its share price increased over 1.25percent to N9.80, while market capitalisation stood at N286.39billion.

Access Bank’s net income for the last five years showed N38.40billion in 2012, N36.30billion in 2013, N42.98billion in 2014, N65.87billion in 2015 and N71.44billion in 2016.

The bank’s total assets stood at N3.48trillion in 2016, N2.59trillion in 2015 and N2.10trillion in 2014.

On a five year annualised basis, both dividend per share and earnings per share growth ranked in-line with the industry average relative to its peers.

While presenting the first quarter result, Herbert Wigwe, Group Managing Director, Access Bank Plc noted that 2017 marks the end of its third five-year transformation journey.

According to him, the bank would, in the coming months, focus on its strategic objective of improving profitability, adding that it would continue to improve on profitability and shareholder value by maintaining its capital and liquidity positions.

Wigwe said that the bank would implement cost management strategy and exploit retail business opportunities using its digital platforms to deepen market share of the wholesale business.

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