Access Bank (Ghana) (ACCESS) Q2 2024 earnings summary

Executive summary

• Net interest income for the period ended June 2024 was GHS 220,356, down from GHS 262,947 in June 2023.

• Total operating income increased to GHS 788,883 from GHS 710,339 year-over-year.

• Profit before tax rose to GHS 556,332, compared to GHS 514,200 in the prior year.

• Profit after tax reached GHS 361,616, up from GHS 334,230 year-over-year.

• Basic and diluted earnings per share increased to 2.08 from 1.92 year-over-year.

Financial highlights

• Interest income grew to GHS 651,473 from GHS 572,982 year-over-year.

• Net fee and commission income more than doubled to GHS 337,155 from GHS 148,498.

• Net trading income declined to GHS 195,136 from GHS 266,341 year-over-year.

• Total assets increased to GHS 15,674,478 from GHS 10,368,909 year-over-year.

• Deposits from customers rose to GHS 11,346,007 from GHS 7,340,784 year-over-year.

Outlook and guidance

• The risk management framework and processes remain consistent with the previous year, focusing on credit, operational, market, liquidity, legal, compliance, strategic, reputational, and capital risks.