Table Of ContentTomorrow
is
SPEED SERVICE SECURITY Access Bank Plc
Annual Report & Accounts 2016
1 OVERVIEWS
Business and Financial Highlights 08
Locations and Offices 10
Chairman’s Statement 12
Chief Executive’s Review 15
4 FINANCIAL
STATEMENTS
2 BUSINESS REVIEW Independent Auditor’s Report 126
Statement of Comprehensive Income 132
Corporate Philosophy 20
Statement of Financial Position 133
Reports of the External Consultant 21
Consolidated Statement of Changes in Equity 134
Commercial Banking 22
Consolidated Statement of Cash Flows 137
Business Banking 26
Notes to the Consolidated Financial Statements 168
Personal Banking 30
Corporate and Investment Banking 34
Transactions Services & Settlement Banking 38 SHAREHOLDER
5
Operations and Information Technology (IT) 40 INFORMATION
Digital Banking 42
Our People, Culture and Diversity 44 Shareholder Engagement 276
Sustainability Report 48 Notice of Annual General Meeting 278
Risk Management 58 Explanatory Notes to the Proposed Resolutions 280
Capital Formation 284
e-Dividend Mandate Form 285
3 GOVERNANCE Shareholder Information Update Form 287
Proxy Form 289
The Board 88 Investor’s Enquiries 291
Directors, Officers & Professional
Advisors 94
Management Team 95 6 CORPORATE
Directors’ Report 96
INFORMATION
Corporate Governance 102
Directors’ Responsibilities 116 Branch Network and Onsite ATM Locations 296
Report of the Statutory Audit Committee 118 Offsite ATM Locations 304
Customers’ Complaints Feedback 120 Subsidiaries’ Addresses 311
Correspondent Banks 312
VISION
To be the World’s
Most Respected
African Bank
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Access Bank Plc
Annual Report & Accounts 2016
WELCOME
TO A SECURE TOMORROW
The future belongs to those who create it. This is why The Bank’s results show that our investment in in-
at Access Bank, innovation is in our DNA: it is what novative solutions is paying off. Not only have we
sets us apart and propels us to take the lead in prod- achieved our strategic imperatives, we have also
uct and service delivery through innovative and sus- maximised our strong market position and solid cap-
tainable banking practices. ital base, while leveraging on digital innovation to im-
prove service touch points. Beyond our impressive
In the face of the challenging operating environment financial results and wide array of awards, our myriad
experienced in the past year, we have remained re- of innovative products affirms our commitment to
silient, rising to become a Top 3 Nigerian financial becoming the World’s Most Respected African Bank
institution and receiving global recognition for our by year end 2017.
outstanding performance across various categories.
We are indeed on the brink of a new dawn in the evo-
All this has been achieved with the customer at the lution of the banking industry and in the internation-
heart of our strategy. Keying in to consumer insights, al market at large. Access Bank is well-positioned to
we are constantly exploring diverse solutions that lead this change; armed with our tenacity, driven by
make banking and financial management simple and an unwavering commitment to our vision, and guided
accessible through our expansive foray into the retail by our brand promise of Speed, Service and Security.
sector, with an emphasis on cheaper funding servic- The future is indeed ours for the taking. Welcome to a
es and new ways for customers to manage their fi- secure tomorrow.
nances.
Rapid response and quick Service matters to our cus- Security is fundamental to
access to advice, information tomers, whose expectations customers. They need to be
and products are important to have risen dramatically. able to trust us to manage
all customers. their finances responsibly.
Service is both a qualitative and 95% of customers surveyed
Our ability to translate effec- quantitative measure: it has say that security is the most
tive governance and leverage much to do with how custom- important factor in choosing
employees’ competence to ers feel and how long they have to bank with us.
deliver swift and appropriate to stand in a queue.
responses to customers is a
significant competitive advan- Our customers appreciate
tage. that we treat everyone with re-
spect and consideration.
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Access Bank Plc
Annual Report & Accounts 2016
4
Access Bank Plc
Annual Report & Accounts 2016
TOMORROW
IS SECURE
SPEED SERVICE SECURITY
5
Access Bank Plc
Annual Report & Accounts 2016
1
OVERVIEW
6
Access Bank Plc
Annual Report & Accounts 2016
A brief review of Access Bank’s
Financial and operational
Achievements in the past year
Business and Financial Highlights 08
Locations and Offices 10
Chairman’s Statement 12
Chief Executive’s Review 15
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Access Bank Plc
Annual Report & Accounts 2016
BUSINESS AND FINANCIAL
HIGHLIGHTS
2016 2015 2014
GROSS EARNINGS 381,320,783 337,404,230 245,383,536
PBT 90,339,456 75,038,117 52,022,290
PAT 71,439,347 65,868,773 43,063,479
CUSTOMERS’ DEPOSITS 2,089,197,286 1,683,244,320 1,454,419,052
LOANS AND ADVANCES 1,854,662,174 1,408,564,741 1,122,900,100
SHAREHOLDERS’ FUNDS 454,494,580 367,801,467 277,410,728
TOTAL ASSETS 3,483,865,564 2,591,330,151 2,104,360,539
N’billion
2016 381.3
Gross Earnings
2015 337.4
13.0%
2014 245.4
N’billion
2016 90.3
Profit Before Tax
2015 75.0
20.4%
2014 52.0
N’billion
2016 71.4
Profit After Tax
2015 65.9
8.5%
2014 43.1
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Access Bank Plc
Annual Report & Accounts 2016
N’billion
2016 1,854.7
Loans & Advances
2015 1,408.6
31.7%
2014 1,122.9
N’billion
2016 2,089.2
Customers’ Deposits
2015 1,683.2
24.1%
2014 1,454.4
N’billion
2016 454.5
Shareholders’ Funds
2015 367.8
23.6%
2014 277.4
N’billion
2016 3,483.9
Total Assets
2015 2,591.3
23.6%
2014 2,104.4
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Access Bank Plc
Annual Report & Accounts 2016
LOCATIONS AND OFFICES
Democratic Republic of Congo Rwanda
Number of Branches: 4 Number of Branches: 7
Total Staff: 62 Total Staff: 67
Gambia Sierra Leone
Number of Branches: 6 Number of Branches: 4
Total Staff: 38 Total Staff: 34
Ghana Zambia
Number of Branches: 44 Number of Branches: 6
Total Staff: 557 Total Staff: 61
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Access Bank Plc
Annual Report & Accounts 2016
