2010 Access Bank Annual Report and Accounts

More documents

Recommendations

Info

Annual Report Introduction & Business Chairman & Chief Operating Our People Corporate Social Contents Overview Executive’s Review Review & Culture Responsibility At a glance 2010 Performance highlights N5.79bn Total Revenue 2010: N5,788,000,00.0 N12.6bn -42% The Products & Retail Banking Division provides a wide range of products and services to employees and major shareholders of corporate organizations, small businesses and customers of large corporate organizations. The organizational model for the retail banking division is structured along three broad customer segments; — Employees and major shareholders of corporate organizations (from medium to high income professional within an annual income bracket of N1million to N35million. — Small businesses independently owned and operated by an individual or a group of individuals, with no more than a hundred (100) employees and an annual sales turnover between N25million and N500 million. — Customers of large corporate organizations; buyers or users of products of the corporate organization Our strategy revolves around exploiting the value chain of Access Bank’s large corporate clients by offering specialised products and services tailored to meet their needs. The division benefits from the strength of the Institutional and Commercial Banking Divisions, e-banking channels, state-of-the-art multi-media customer contact centre and the branch network of the Bank to grow and serve its customer base. The highlight of our financial performance is shown below: Total Assets 2010: N12,608,000,000 N1.98 bn Profit before tax 2010: N1,979,000,000 2% -46% +1115% RETAIl Banking Contribution to total profit 2009: 4% During the financial year ended 31 December 2010, the Retail Banking division recorded 1115% growth in PBT. The significant increase was as a result of enhanced understanding and application of the Bank’s value chain approach to its target market. The performance of the division was buoyed by the Banks elaborate Enterprise Risk Management framework (resulting in better loan quality for the division) and the deepening of our relations to harness inherent opportunities. 2010 2009 Dec 2009 RETAIL BANKING RETAIL BANKING vs. Dec 2010 We see tremendous opportunities in our Retail Banking Division and have made various significant investments around risk management capacity and product development all geared towards an agressive retail expansion drive in 2011. We will continue to stay close to our target market, increase market share of our customers’ businesses and create new relationships through: — Increasing customer usage of alternative channels (internet, mobile, telephone banking services, migration of more cash transactions to self-service ATMs and POS etc). Millions Millions % Gross Earnings 5,788 9,926 -42% Interest Expense (655) (2,428) -73% (Loss)/Profit on Ordinary Activities Before Tax 1,981 163 1115% Assets 12,608 23,504 -46% Liabilities 35,409 59,362 -40% Net Assets (22,802) (35,858) -36% — The push of our innovative corporate payment solutions (Access Pay) to ease transactions and provide a multi-channel platform for the collection of revenue/ receivables for our clients. — Leveraging competences and capabilities in our subsidiaries, external alliances as well as other Strategic Business Units. 7 OF 10 Access Bank Plc Annual Report and Accounts 2010
Annual Report Introduction & Business Chairman & Chief Operating Our People Corporate Social Contents Overview Executive’s Review Review & Culture Responsibility 1 2 3 3 HIGHLIGHTS 1 ATMs Migration of more cash transactions to self-service ATMs. 2 E-banking channels Our state-of-theart multi-media customer contact centre continues to grow and serve its customer base. 3 Multi-channel platforms Our innovative corporate payment solutions such as Access Pay ease transactions and provide a multi-channel platform for the collection of revenue/receivables for our clients. 8 OF 10 Access Bank Plc Annual Report and Accounts 2010
Page 1 and 2: Annual Report Introduction & Busine
Page 21: Annual Report Introduction & Busine
Page 29: Annual Report Introduction & Busine

2010 Access Bank Annual Report and Accounts

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?