Access Bank Achieved Marginal Profit Growth, Courtesy Lower Deffered Tax Expense-H1-2018

• Dividend Information
  • Dividend: 25k
  • Qualification Date: 11^th September, 2018
  • Closure of Registrar: 12^th September, 2018
  • Payment Date: 21^st September, 2018
  • Dividend Yield 2.66%
• Earnings before Tax (EBT) is 11.92% below what was reported in H1-2017, but for lower Deferred Tax Expense (N199.731 million H1-2018 against N6.360 billionH1-2017), the reported profit for the year improved over 2017 by 0.42%
• Earnings Per Share (EPS) for the period is N1.37 0.42% above the N1.36 earned H1-2017
• The said EPS yielded 14.57% of the price (N9.40) at the released date of the result
• The stock currently sells below the Book Value (BV). Please note that the estimated BV as at the end of the half year financial performance is N15.91 although this is drop from the N16.61 estimated from its 2017 half year performance
• The N0.25 half year dividend paid is same as what was paid last year, this is expected since the growth within the two comparable period in 2017
• Operating Expenses Margin increased by 24.30% above previous half year estimate (H1-2018- 39.76% against H1-2017-31.98%)

See below for other financial ratios and comparison