Access Holdings Trades at 39% Discount to 52-Week High

Access Holdings Trades at 39% Discount to 52-Week High

Access Holdings PLC rallied to about N663 billion on the Nigerian Exchange. The largest lender by total assets is the least valued in the Tier 1 category in terms of valuation.  Access share price rose by 8.43% week on week to close at N18.65 kobo per share, from N17.20.

In profitability, Access PLC ranked low compared with its peers on the Nigerian Exchange. Investors’ sentiment on the bank has increased following its ability to choose a successor much easier after its erstwhile GMD demise.

The stock is trading at a more than 39% discount to its 52 week high, according to data from the local bourse. Data show the company had hit N13.80, its lowest price in 52 weeks.

In its audited financial statement for 2023, Access Holdings PLC reported a 4-fold increase in net profit, up by +305.0% year on year to N619.3 billion. Earnings showed solid growth on both revenue streams, according to analysts.

The Holdco saw a 99.9% surge in interest income, which printed at N1.7 trillion. Also, the group non-interest revenue, up by 71.3% to N869.8 billion in 2023. Consequently, gross earnings grew by 89.1% to N2.5 trillion. #Access Holdings Trades at 39% Discount to 52-Week High GTCO Plc Trades at 21.8% Discount to 52-Week High