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Shareholders Commend Access Bank’s 2019 Performance at AGM

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Access Bank restates commitment to deepen presence in Kenyan market after discontinuation of Sidian Bank acquisition

It was commendation galore  at the 31st Annual General Meeting (AGM) of Access Bank Plc held in Lagos as shareholders hailed the Board of Directors, Management and Staff of the  of the Bank for the highly impressive performance for the  2019 financial year.

The meeting, which was held by proxy due to the COVID-19 pandemic, had three  leaders of  various shareholders’ association present.

Sir Sunny Nwosu of Independent Shareholders Association of Nigeria (ISAN), Mr. Owolabi Peters of Integrated Shareholders Association of Nigeria and Mrs. Bisi Bakare of Pragmatic Shareholders Association of Nigeria, said despite the challenging operating environment,  Access Bank Plc did not only record improved results, but also rewarded shareholders with good a dividend that is very timely given the difficulties created by the COVID-19 pandemic.

For instance, Nwosu said Access Bank Plc had a good foresight by merging with defunct Diamond Bank Plc, noting that “the professional and seamless manner with which  the integration was done should be commended and shareholders appreciate the board and management.”

According to him,   the future remains very bright for the all shareholders, considering the synergy the merger has brought to the Bank and the expertise the management and staff continued to deploy to ensure Access Bank maintain a leading role in the retail banking space.

Nwosu also commended leading efforts of Access Bank in the private-sector led Coalition Against COVID-19 (CACOVID), supporting the Federal Government to fight the pandemic.

On her part, Mrs. Bakare said unlike some of its competitors, Access Bank has recorded  increased profits  in the past three years, noting that shareholders have confidence in  the board and management to continue to deliver improved performance, going forward.

In his address, Group Managing Director/CEO, Access Bank Plc, Dr. Herbert Wigwe, said   the Group delivered a 26 per cent increase in gross earnings of N666.8billion from N528.7billion in 2018, comprising interest in-come growth of 41 per cent from previous levels to N155.9billion despite declining interest rate environment.

“The effects of an enlarged loan book contributed significantly to the interest income growth of N155.9billion (+41 per cent y/y), leading to strong bottom-line figures. The net effect on operating income resulted in strong profit before tax (PBT) of N115.4billion as against N103.2billion in 2018. The strength of the performance reflects a growing franchise supported by digital capabilities and improving customer service touchpoints. The retail business gained momentum, leveraging opportunities in key sectors to consolidate market share dominance through our digital loans. The wholesale business also continued to soar in the year, following intense marketing drive and continued investment in the sector to deliver stronger synergies,” he said.

The Bank ended the year with profit after tax (PAT) of N97.509 billion, up from N94.981 billion and paid a final dividend of 40 kobo to bring the total dividend to 65 kobo per share.

Wigwe said the merger with Diamond Bank produced a truly diversified institution with remarkable retail presence and solid wholesale market share.

“This has propelled us towards achieving our five- year strategic objectives to create the largest bank in Nigeria by total assets as well as largest in Africa by customer base with over 36 million unique customers across the network. Using an agile approach and with strong dedication, we have achieved a significant milestone in financial services on the continent whilst delivering the fastest and most seamless customer Day 1 integration globally. With the emergence of the new entity, the bank is well- positioned to cater to the retail business through a broader reach and product offerings tailored to individual customer needs and delivered efficiently.  Access Bank is now  a tier one retail banking franchise with strong digital payments capabilities and benefiting from a diversified business mix,” he said.

Wigwe said the bank is already addressing the issue high operating expenses and taking drastic  measures to ensure that expenses are reduced significantly, adding the effect would be felt mostly in the second, third and final quarter of 2020.

Speaking on how Access Bank is running its business in the COVID-19 period, the GMD assured that Access Bank has put in place  a robust business continuity process enough to sustain the bank’s performance going forward.

“Access Bank was well prepared for the COVID-19 early enough and created ways of working from home and working with our customers. We   set up links with our customers and many ways of reaching out to our customers three or four times in a day.  This happened even before we started working with the larger society and enabled us to start fighting this pandemic. So Access Bank has put a system in place and now working with CACOVID to make sure that everyone knows what he is doing,” he said.

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Dr. Ifeoma Eze: The Connection That Transforms Lives

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Dr. Ifeoma Eze: The Connection That Transforms Lives

Dr. Ifeoma Eze: The Connection That Transforms Lives

Dr. Ifeoma Eze isn’t just a preacher; she is a voice that awakens purpose, a mentor who nurtures potential, and a guide leading people back to the true source of value—God. With warmth, wisdom, and an undeniable passion for transformation, she delivers a simple yet powerful message: your worth isn’t defined by what you have, but by who you are connected to.

Dr. Ifeoma Eze: The Connection That Transforms Lives

In her inspiring book, Becoming A Person of Exceptional Value, Dr. Eze drives home a truth that is often overlooked: no one can truly thrive in life without being plugged into the ultimate source—God. “We are not just physical beings trying to have a spiritual experience,” she says with conviction. “We are spiritual beings navigating a human journey.”

She takes readers back to the very beginning—Genesis 1:28—where God gave humanity a clear mandate: be fruitful, multiply, replenish the earth, subdue it, and have dominion. “This isn’t just about surviving,” she explains. “It’s about thriving, creating impact, and living a life that truly matters.”

But what happens when people try to go through life disconnected from their source? Dr. Ifeoma paints a vivid picture: “Imagine a strong, well-built water pipe. It looks good, but if it’s not connected to a water supply, it serves no purpose. That’s exactly what happens when we try to succeed without God—we may look promising, but we’ll never truly function as we were meant to.”

She also draws lessons from Jesus’ encounter with the barren fig tree. “Jesus wasn’t upset with the tree for simply existing,” she explains. “He was upset because it gave the appearance of having fruit but had nothing to show for it. And that’s how many people are today—outwardly successful but inwardly empty.”

Dr. Ifeoma Eze’s message is more than just words—it’s a heartfelt call to action. She speaks with the authority of someone who has walked this path, someone who has experienced firsthand what it means to be transformed by divine connection. Her sermons are not just lessons; they are life-changing encounters, filled with energy, encouragement, and practical wisdom.

Through Becoming A Person of Exceptional Value, she challenges people to reconnect with God, to recognize their true worth, and to step boldly into their calling. “You weren’t created to struggle in mediocrity,” she affirms. “You were made to shine, to build, to replenish, and to lead. But first, you must be connected to the One who gives all value.”

Dr. Ifeoma Eze isn’t just teaching people how to live; she’s showing them how to truly thrive. And in a world where so many are searching for meaning, her message couldn’t be more timely.

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Ramadan Delight: Enjoy Flexible Payments, Huge Discounts & Exclusive Gifts with Adron Homes

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Ramadan Delight: Enjoy Flexible Payments, Huge Discounts & Exclusive Gifts with Adron Homes

 

In the spirit of Ramadan, Adron Homes and Properties is spreading joy and making homeownership more accessible with its “Ramadan Delight” promo. This special initiative offers incredible rewards and discounts, reflecting the company’s commitment to providing affordable housing solutions while embracing the essence of generosity during this sacred month.

As part of the promo, customers can enjoy up to 30% discount off land prices and the convenience of spreading payments for up to 24 months with flexible, zero-interest installment options. This incredible offer allows aspiring homeowners to invest in premium estates without financial strain, making their homeownership dreams a reality.

To make the season even more rewarding, Adron Homes is gifting subscribers valuable items, ensuring they experience the true delight of Ramadan. Customers who take advantage of this special offer will receive exciting gifts, including provision packs, provision hampers, standing fans, fruit baskets, microwaves, smart TVs, refrigerators, and many more luxurious rewards. Additionally, essential food items such as bags of rice, cartons of noodles, gallons of cooking oil, and Ramadan hampers will be shared, along with prayer mats and Qur’ans to support spiritual reflection.

Adron Homes estates are; in Lekki-Epe, Badagry, Shimawa, Ibadan, Abeokuta, Ede Osun, Osunjele, Ilisan, Jos, Sagamu, Ado Ekiti, Atan Ota, Ikorodu, Papalanto, Ijebu Ode, Abuja, Nasarawa, Niger, and more. With strategically located estates and a commitment to excellence, the company ensures that clients have access to premium and affordable properties in fast-growing areas.

Beyond offering attractive property deals, Adron Homes is reinforcing its commitment to corporate social responsibility by giving back to communities, mosques, and underprivileged individuals. The company has embarked on a charitable drive, donating food items and relief materials to support those in need, embodying the true essence of Ramadan’s spirit of generosity and kindness.

With the “Ramadan Delight” promo, Adron Homes continues to redefine real estate accessibility while celebrating the beauty of giving. Now is the perfect time for individuals and families to take advantage of this remarkable opportunity to own a home while enjoying heartfelt rewards.

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FIRSTBANK FILES APPEAL

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FirstBank has announced that its FirstEdu product designed to put schools at an advantage in the financing of capital projects such as the acquisition of new property, school expansion and reconstruction has been remodeled to a period of up to a maximum tenor of 48 months.

-INJUNCTION AND STAY OF EXECUTIONC

-ARGO REMAINS UNDER ARREST

 

In a surprising twist of events, its decision delivered today, the Federal High Court in a surprising shift from the true nature of FirstBank ’s claim held that the matter is not a maritime claim but rather, a simple case of debt recovery. This is quite surprising considering the fact that the order sought is to prevent further fraudulent sale of crude on the FPSO.

 

Shockingly, the court also held that the Arrest Order against the cargo, because it was exparte in nature, expired by effluxion of time within 14 days of its issuance.

 

Aggrieved by the decision, FirstBank lodged an appeal against the decision of the FHC. Also, FirstBank filed an application for an injunction of the court against GHL, pending the determination of the appeal. The Cargoes of Crude Oil on the FPSO TAMARA TOKONI remain arrested.

 

While FirstBank has great respect for the courts, it strongly disagrees with the ruling, which, in our view, constitutes a miscarriage of justice.

 

FirstBank remains committed to protecting and securing the interest of its members and will relentlessly pursue justice against mischievous debtors seeking to use the machinery of the law to perpetuate mischief and evade their responsibility to offset outstanding obligations.

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