Access Holdings to delay H1 2022 results till September

The management of Access Holdings Plc on Monday said its half year ended June 30, 2022 results will be released to investing public on or before September 15, 2022.

Company Secretary, Access Holdings, Mr. Sunday Ekwochi in a signed notice on the Nigerian Exchange Limited (NGX) attributed the delayed in filing H1 2022 to the ongoing resolution of the Corporation’s half year post-audit matters.

According to him, the financial institution needs to obtain regulatory approval, stressing that the release of the Corporation’s 2022 audited financial statements for the period ended June 30, 2022 could be delayed beyond the due date of August 29, 2022.

“The Corporation’s insiders are hereby reminded that the earlier declared closed period in respect of transactions on the Corporation’s securities remains in place and until 24 hours after the release of the Results,” he said.

On March 28, the entire 35,545,225,622 issued shares of Access Bank were delisted from the Daily Official List of Nigerian Exchange Limited (NGX) while Access HoldCo’s entire issued share capital of 35,545,225,622 ordinary shares of 50 Kobo each were same day listed on the Daily Official List of NGX at N9.95 per share.

The delisting of Access Bank and listing of Access HoldCo on NGX is pursuant to the Scheme of Arrangement between Access Bank Plc and the holders of its fully paid ordinary shares of 50 Kobo each as approved by the Securities and Exchange Commission (SEC) and sanctioned by the court.

While commenting on the result, Herbert Wigwe, the then Chief Executive Officer, Access Bank Plc who is now the Group Managing Director/Chief Executive Officer of Access Holdings Plc said: “2022 is pivotal for our franchise, as we conclude our 2018-2022 corporate strategic plan. In the year, we will focus on a disciplined implementation of our strategy to drive efficiency and operational excellence across all segments, expand revenue and increase profitability, with enhanced focus on risk management practices and a disciplined cost containment structure.

“As we go into our next 5-year strategy cycle, we are realigning the franchise for growth, by transitioning into a Holding Company (HoldCo). This will enable us to unlock and capture available non-banking opportunities in the market that would lead to the diversification of our earnings, drive efficiency, and grow scale while maintaining our moderate risk management approach.

“Our diversified business model yielded positive sustainable results, guided by a robust risk management framework, as we grew the business cautiously and recorded sound prudential ratios. This year’s results reinforce our resolve to generate sustainable returns despite challenging market conditions.”