UPDATED: Access Holdings’ half-year profit weak despite increased revenue

Access Holdings recorded a weaker net profit due to strong cost measures, despite recording a new revenue milestone for the first half of the year.

According to its audited earnings report issued on Saturday, post-tax profit for Nigeria’s biggest lender stood at N281.3 billion, about 12.8 per cent of the N2.2 trillion gross earnings.

The performance reflects the challenges the financial services group faced in turning revenue into profit.

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