Access Bank (Ghana) (ACCESS) Q3 2024 earnings summary

Executive summary

• Net profit after tax for the nine months ended September 2024 was GHS 544,457,000, up from GHS 455,633,000 year-over-year.

• Total comprehensive income attributable to equity holders reached GHS 544,457,000, compared to GHS 455,633,000 in the prior year.

• Earnings per share (basic & diluted) increased to 3.13 from 2.62 year-over-year.

Financial highlights

• Interest income rose to GHS 1,011,708,000 from GHS 818,919,000 year-over-year.

• Net interest income was GHS 333,863,000, down from GHS 349,582,000 year-over-year.

• Net fee and commission income more than doubled to GHS 569,602,000 from GHS 259,491,000 year-over-year.

• Profit before tax increased to GHS 837,626,000 from GHS 700,974,000 year-over-year.

• Total assets grew to GHS 17,082,682,000 from GHS 11,558,061,000 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.