Access Bank Grows Deposit to N1.33 Trillion for 2013

One of Africa’s largest banking groups, Access Bank Plc, has announced its audited result for the financial year ended December, 2013. An analysis of the results released on the floor of the Nigerian Stock Exchange today validated the Bank’s capacity for sustainable growth.  

The results showed an increase in the Bank’s deposit base from N1.201 trillion N1.33 trillion, an 11% growth over last year’s figure while its loan book rose impressively by 33%, from N609bn in 2012 to N810bn in 2013, demonstrating the Bank’s resolve to empowering critical sectors of the economy. The performance for the financial year under review is strong testament to Access Bank’s positioning as one of Nigeria’s Tier 1 Banks. 

A glance through the numbers also revealed that the Bank’s earnings grew to N206.7bn from N206.4bn in 2012. Similarly, the Bank recorded an improvement in its cost of funds from 4.5% to 4.6% while Non-Performing Loans (NPL) ratio decreased to 2.7% from 5.0% which is owed to the Bank’s enhanced risk management framework. 

Also, the Bank posted a Profit Before Tax (BPT) of N44.9bn which is a 3.4% decrease compared to the N46.bn recorded for the corresponding period in 2012. This is however attributable to regulatory changes in the operating environment, some of which include raising of the cash reserve requirements (CRR) on public sector deposits to 50% from 12%, reduction and removal of a number of fee income lines such as ATM and CoT charges as well as the increase in AMCON levy from 0.3% to 0.5%  amongst others.

 MORE AFTER THE BREAK. PLS CLICK ON READ MORE BELOW

TIWA SAVAGE & TOKE MAKINWA SIGNED ON AS MAGGI AMBASSADOR

TIWA SAVAGE

TOKE MAKINWA

Tiwa Savage the soon to become Mrs. Tiwa Balogun female music star who is getting married very soon Saturday, April 26, 2014 to be more precise, in what many believe would be a carnival of stars has been earmarked to become the new face of Maggi cubes. But she's not the only one, Nigeria's own social media queen Toke Makinwa Ayida has also being signed on, on the same bill.


We found out about this information since last month, but we had to stay mute because the deal was still undergoing some fine-tuning. 

Now that we hear that the deal has finally sailed through it means another very lucrative deal coming in for Tiwa. She's already a brand ambassador for Pepsi, Forte Oil & MTN. From our little findings it is another multimillion Naira deal entering the songstress kitty.

In the case of Toke, her extraordinary presence & follower-ship on the social media is already counting very well for her. Some say she has one of the highest follower-ship in Nigeria. With this new big deal now in the kitty, we are so sure many others would come flying in.

A very big congratulations to both gorgeous ladies.  We hope both ladies are fantastic cooks, as it is likely we would be seeing them soon on our TV screens dishing out cooking instructions, much to the delight of all.