Access Bank Holds 33rd AGM, Approves Total Dividend of N35.5bn for FY 2021

Access Bank Plc paid a total dividend of N35.5bn for the financial year 2021 to its shareholders, at its 33rd Annual General Meeting in Lagos.

The Chairman of the Board of Directors, Dr (Mrs.) Ajoritsedere Awosika, in her opening statement said the bank in 2021 continued to deepen its retail banking business during the year with clear indications that the retail strategy is progressing faster than envisaged.

She added “We recorded strong and resilient increase in transaction counts, transaction volume and retail revenue as we onboarded new customers, expanded our agency banking, branch network and strengthened existing relationships”.

In his remarks the Group Managing Director/CEO of Access Bank, now Access Holdings Plc, Mr. Herbert Wigwe said the focus in 2021  was on responsible and inclusive growth. This according to him allowed the bank to be a source of stability for its customers during challenging times and to continue supporting the communities they serve.

He said the bank earned N160.2bn in net income with improved capital base, growth in customers’ deposits, liquidity and improved capital ratios despite low interest rates and volatility.

Speaking further he said the Group delivered a 27% increase in gross earnings to 971.9bn from N764.7bn in 2020, comprising 62% in interest income and 38% in non-interest income despite the challenging market conditions. He added that the net effect on operating income resulted in a strong PBT of N176.7bn against N125.9bn in 2020.

Giving the external auditor’s report Chidi Ojechi of Price Waterhouse Coopers, PwC Nigeria said the bank’s statement of financial position and comprehensive income were in agreement with the books of account and returns.

Mr. Henry Omatsola Aragho, the Chairman Audit Committee in his report confirmed that necessary co-operation was received from the management in the course of their audit and their responses were satisfactory, alongside the bank’s system of accounting and internal control.

Highlights of the event was the approval by shareholders of the 70k dividend payment which led to a total dividend payment of N1.00 per share for the 2021 financial year.

 

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