Page 17 - ACCESS BANK ANNUAL REPORTS_eBook

CHIEF EXECUTIVE’S REVIEW

The past few years have been extraordinary for Access traction, with improved performance driven by minor recov-
Bank. We navigated the financial crisis and its turbulent af- ery of oil prices and production, as well as sustained growth
termath whilst never losing sight of the reason we are here: in other sectors in the economy.
to serve our clients, our communities, and of course, to
earn a fair profit for our shareholders. Despite these chal- Monetary policy helped cushion the effects of the reces-
lenges we have never lost sight of our sustainable business sion, and moderate the impact on earnings across the in-
agenda, and continued to invest in technology and talent to dustry, as banks explored new opportunities to improve
strengthen the future of our company. profitability.

2017 IN RETROSPECT The financial markets also strengthened in 2017, with the
In 2017, we demonstrated resilience amidst macro-eco- Nigerian Stock Exchange (NSE) recording a 42% return in
nomic challenges that weighed on credit expansion, asset the NSE ASI index, earning itself the 3rd best exchange in
quality and capital adequacy, to record a largely positive the world. This positive trend translated to increased for-
performance for the year. eign investor confidence and appetite for Nigerian assets.

Gross Domestic Product (GDP) growth for the second The Nigerian macro-economic and banking landscape
quarter of the year, marked the end of five quarters of con- have undoubtedly been impacted by recent volatility. De-
spite this, our business has consistently evolved and adapt-
ed to changes in consumer behavior, technology, and the
competitive landscape. We remain committed to achieving
a sustainable growth plan regardless of any macro con-
straints.

FINANCIALLY STRONG AND SUSTAINABLE
Despite marked improvement in the macro-economic
backdrop, the residual effect of the recession intensified

Despite these
challenges we have
never lost sight of our
sustainable business
agenda, and continued
to invest in technology
and talent to strength-
en the future of our
company.

HERBERT WIGWE,
GROUP MANAGING DIRECTOR / CEO

Access BAnk Plc 17
Annual Report & Accounts 2017