Access Bank Ghana is a full service commercial Bank offering universal banking services to Corporate, Commercial, Retail customers and Financial Institutions across Ghana. The banks products include Loans, Transaction accounts, Savings, Investments, Debit cards etc.
The Bank launched its operations in 2009, as one of the most capitalized banks and has continued to consolidate its reputation as one of the fastest growing in the industry.
As a catalyst for socio-economic development in Ghana, Access Bank provides support for financing landmark projects in the private and public sectors.
With an impressive growth trajectory over the past 9 years, which earned it the Bank of the Year award at the 2014 edition of the Ghana Banking Awards, the Bank is spearheading its sustainability drive through unrivalled investments in Education, Health, Environment, Sports and the Arts.
In 2016, the Bank was listed on the Ghana Stock Exchange (GSE) as the 11th Bank after successfully completing its Initial Public Offer. This feat also occasioned a name change from Access Bank (Ghana) Limited to Access Bank Ghana Plc and positioned the Bank as the first Ghanaian bank of Nigerian heritage to list on the GSE. The Bank has over 1,800 shareholders including several Ghanaians and Institutional investors.
Today, Access Bank serves nearly the entire population across 52 locations in major cities and commercial centers. The Bank is a member of the Access Bank Group, which has presence across 8 African countries, China, India, Dubai, Lebanon and the United Kingdom.
On listing on the Ghana stock exchange on the December 21, 2016. Its IPO, sought to issue 26,000,000 shares at GHS 4 per share to raise GHS 104million. The Offer opened on 19 October and closed 25 November, 2016.
Access banks highest share trading price is Ghs 5.00 while its lowest trading price has been GHS 2.4.
“According to the banks 2019 Audited Financial Statement, profit in 2019 was GHS172 million as against GHS38.6 million in 2018.
It benefited hugely from growth in net trading income, as well as fees and commission.
Net trading income increased from GHS59 million in 2018 to GHS100 million in 2019.
To this end, earnings per share increased from 28 pesewas in 2018 to GHS1 at the end of 2019.
The cost-to-income ratio was, however, high at 57.4%, meaning more has to be done to bring operating expenses down.
The bank’s CAR was high at 21.75%, but the NPL was also high at 21.6% though had declined from 32.10% in 2018.”
Currently, the stock is trading at GHS 4.39 on the Ghana stock exchange as at the close of day on May 26, 2020.
Sources: Access Bank Ghana, ClassFmonline, GSE.