Access Bank has recorded a profit-before-tax of GH¢514.2 million in the first half of 2023, representing a growth of 65.4 per cent compared to the GH¢310.8 million posted for the same period in 2022.
The bank’s performance for the first six months of the year highlights the remarkable recovery from the debt exchange programme witnessed in 2022.
The bank has also demonstrated a strong commitment to supporting the immediate recovery and long-term growth of the real sector of the economy, evidenced by the substantial growth in loans and advances to the private sector.
Advances grew by 28.2 per cent to GH¢2,007 million as of June 2023, from the GH¢1,566 million recorded in the same period in 2022.
Additionally, the bank’s total assets saw substantial growth, from GH¢ 8,602 million to GH¢10,369 million over the same period.
Speaking on the bank’s impressive performance, Managing Director of Access Bank Ghana Plc, Olumide Olatunji, said the bank’s stellar performance was as a result of sound financial discipline, astute management, and strategic decision-making.
“Our bank’s robust growth amid industry challenges indicates our resilience, and ability to efficiently allocate resources to maximise performance,” Mr Olumide said.
He commended the Board, Management, and Staff of Access Bank Ghana for their leadership and unwavering commitment to the success of the bank.
The Chief Financial Officer of Access Bank Ghana, Michael Gyabaah, said, “As the economy rebounds from the challenges of 2022, it is imperative that the banking sector remains positioned to provide the requisite support to drive and consolidate the gains seen so far in 2023.”
“At Access Bank Ghana, we remain committed to working with our clients to navigate this delicate period, taking cognisance of the unique peculiarities of each client. As a Bank, we believe that enduring success comes from winning together with our clients and will continue to make the required investments in systems and processes that put clients first,” he said.
He said, “With a remarkable growth in profit, loans, and total assets, Access Bank Ghana has reinforced its position as a leader in the financial sector. As the banking landscape continues to navigate these times, Access Bank Ghana’s unwavering performance serves as an inspiring example of what can be achieved through proactive, strategic decision-making.”
BY KINGSLEY ASARE
