Page 300 - ACCESS BANK ANNUAL REPORTS_eBook

Group Group Group Group
In thousands of Naira December December December December
2017 2017 2016 2016

Profit before income tax 80,072,480 90,339,456
Income tax using the domestic tax rate 30% 24,021,744 30% 27,101,837
Effect of tax rates in foreign jurisdictions -1% (444,737) 0% (399,963)
Information technology tax 1% 670,435 1% 805,796
Non-deductible expenses 33% 26,198,636 20% 18,083,506
Tax exempt income -47% (37,323,381) -36% (32,335,829)
Education tax levy 1% 1,081,841 0% -
Capital gain tax 0% 11,145 0% 3,808
Prior year’s under provision 2% 1,841,940 0% -
Impact of dividend 3% 2,024,004 6% 5,640,954

Effective tax rate 23% 18,081,628 21% 18,900,109

Bank Bank Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016

Profit before income tax 67,043,501 80,579,576
Income tax using the domestic tax rate 30% 20,113,050 30% 24,173,873
Information technology tax 1% 670,435 1% 805,796
Non-deductible expenses 37% 25,140,338 23% 18,188,958
Tax exempt income -55% (37,078,075) -40% (32,259,947)
Education tax levy 2% 1,081,841 0% -
Capital gain tax 0% 11,145 0% 3,808
Prior year’s under provision 3% 1,841,940 0% -
Impact of dividend 3% 2,024,004 7% 5,640,953

Effective tax rate 21% 13,804,679 21% 16,553,441

17 Earnings per share
(a) Basic from continuing operations

Basic earnings per share is calculated by dividing the profit attributable to equity holders of the company by the
weighted average number of ordinary shares in issue during the year excluding ordinary shares purchased by the
company and held as treasury shares.
Group Group Bank Bank
In thousands of Naira December December December December
2017 2016 2017 2016
Profit for the year from continuing operations 61,977,762 71,117,025 53,238,822 64,026,135

Weighted average number of ordinary shares in issue 28,927,972 28,927,972 28,927,972 28,927,972

Weighted average number of treasury Shares 509,006 461,618 - -
28,418,966 28,466,354 28,927,972 28,927,972
In kobo per share
Basic earnings per share from continuing operations 218 250 184 221

300 Access BAnk Plc
Annual Report & Accounts 2017