In a year marked by economic uncertainties, Access Holdings Plc reported gross earnings of N940.311 billion in the first six months.
This represents a 58% increase when compared to N591.80 billion earnings reported in the corresponding period of 2022.
The figures were disclosed in the financial company's financial statement submitted to the Nigerian Exchange.
Breakdown of Access financial result
Also, Access Holdings reported that its half-year pre-tax profit soared by 71.39% year-on-year, reaching an impressive N167.601 billion.
This is higher than the N97.791 billion reported in the same period in 2022.
Also, the financial company reported that the bank's interest income witnessed a remarkable upswing, growing by 63.00% year-on-year to N606.837 billion.
interest income is revenues generated from loans and advances extended to customers and investments in securities.
One of the standout performers in Access Holdings' H1 2023 results was its fair value and foreign exchange gains, which surged by 49.74% year-on-year to N192.047 billion.
These gains were primarily attributed to significant fair value gains on equity investments and profits from foreign exchange and fixed-income securities trading during the first half of 2023.
Snapshot of the Access key numbers first half 2023
Profit for the period N135.441 billion
Loans and advances to customers N6.71 trillion
Cash and Balances N2.078 trillion
Total Assets N20.853 trillion
Customers' deposits N12.508 trillion
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