March 10, 2020/Coronation Report
Access Bank reported audited FY 2019 results on Friday. Net Profits were reported at N97.5bn (US$270.8m), up 2.7% from the previous year. Net Interest Income (NII) was up 59.7% y/y.
Access Bank proposes a total dividend of N0.65/s which (inclusive of an earlier interim dividend of N0.25/s) translates to a total gross dividend yield of 9.4%.
We maintain our Buy recommendation.
