ACCESS BANK'S EASY ACCESS PAGE.

It is possible that to have easy access and be on the same page with Access Bank, you may have to first define recession and what it does to banks.

This is because all are agreed that Nigeria went into recession in 2016 and is still battling to get out of it but, Access Bank's 2016 figures simply says, no sweat, for us it was business as usual , more or less 

Well a little fear of the fear of bad debts still showed in the form of 54.5% growth in impairment charges to N21,982.8m but certainly not the alarm button type as in three or four digit % growths,

Indeed look more closely at the figures, you find that one of the key contributors to the bank's 191.9 leap in Other operating income to N19,945m was recovered bad debts although as paced by gains from disposal of some securities(mainly); income from other investment and dividends received.

Now you may perhaps stop looking for telltale signs of the gale of recession and absorb Access Bank's 19 % rise in interest income to N247,286.6m as interest expense grew by only 5.88%; and fee and commission increased by 65,7% to N55440.5m.

However don't be too much in a hurry to forget recession because the fee and commission growth was generated while topping related expense by 281,7% to N576.6n; because net forex income of the real type dived by 86.4% to N3597.6m and net gains on financial securities dropped by 12.3% to N55,051.1m.

Add to these 61.5% increase in rent charges to N2810.1m and 22.3% rise in personnel cost to N51,795.5m and you could well say, eureka, have found the footprint of recession.

Unfortunately that may be premature because Access Bank reported only 3.32% growth in other operating expenses to N94,413.5m and so cruised home with 20.4% growth in profit to N90339.5m from 13% increase in gross earnings to N381,320.8m.

Yea tough year may be but Access Bank, says the figures, extracted higher 23.7% profit margin from it compared to 2015's 22.2%,

Remember, no leaning on paper profits and other goodies of weak reporting currency. Old school style N19,458m in unrealised fired transaction difference and fair value N10 012.5m top up only appeared later to shoot comprehensive income to N105,500m from 2015's N66,207.5m.

Tired of trying to define recession the 2016 Access Bank figures? Well don't give up yet, adjust your parameters . After all double digit inflation can be brought into picture  Happy combing.

ACCESS BANK: Nbn Full year.
                           2016.           2015
Total income   381.3.         337.4
Interest inc.     247.3.         207.8
  " Expense.     108.1.          102.4
Impairment.      22.0.            14.2
Fee and comm.55.4.            33.5
  " expense        0.58.           0.51
Security gain   55.1.           62.7
Net forex gain  3.60          26,5
Other Income  19.9.            6.70
Personnel cost 51.8.         42.3
Rent.                   2.81.          1.74
Other expenses 94.4.         91,4
Profit b4 tax      90.3.         75,0
Profit margin % 23.7.        22.2
Unrealised inc  19.5.       (1.99)
Fair value          10.0.          3.38


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