Access, GTB, BoI...

of 2021.

Analysis of the bank’s fee and commission expenses shows a shrunk by 40.8 percent quarter on quarter to N1.7 billion in Q1 2022, while loan recovery expenses climbed 440.6 percent quarter on quarter to N920 million in Q1 2022, resulting in a 13.1 percent quarter on quarter decline in fee and commission expenses to N2.6 billion; but net fee and commission income jumped 28.4 percent quarter on quarter to N18.8 billion compared to N14.6 billion in 2021.

Looking at the sequential quarter on quarter performance, the gross earnings declined 7.5 percent quarter on quarter to N119.6 billion in the first three months of 2022; there was a 1.7 percent quarter on quarter fall in interest income and a 5.3 percent quarter on quarter decline in interest expense, leading to a 0.8 percent drop in net interest income to N57.2 billion in the reported period. The net fee and commission expenses vaulted 35.7 percent quarter on quarter to N18.8 billion, offset by a 65.8 percent quarter on quarter reduction in the other income to N12.3 billion from N36 billion reported in the fourth quarter of 2021.

Also, during the first three months of 2022, the profit before tax stood at N54.3 billion, a significant 22 percent quarter on quarter decrease from N69.6 billion in the prior quarter. Also, the company paid an effective tax of 20.4 percent in the quarter, a 41.2 percent quarter on quarter decline from the effective tax rate of 34.7 percent last quarter, which resulted in a 4.9 percent quarter on quarter drop in the profit to N43.2 billion in the first quarter of 2022.

Ade Ayeyemi – Ecobank Transnational Incorporated; Adesola Adeduntan – First Bank Nigeria; Mukwandi Chibesakunda – Zambia National Commercial Bank; Benedict Oramah – Afreximbank; Admassu Tadesse – Trade and Development Bank; Herbert Wigwe – Access Bank; Vivienne Yeda – East African Development Bank.

African Bank of the Year Award

Access Bank; Attijariwafa Bank; Bank of Africa; Bank of Industry; Ecobank; Guaranty Trust Bank; The Standard Bank Group.

SME Bank of the Year Award

ABSA, Ghana; Commercial International Bank, Egypt; Ecobank; Fidelity Bank, Ghana; The Standard Bank Group.

DFI of the Year Award

AECF; Afreximbank; BADEA; International Finance Corporation (IFC); Trade and Development Bank.

FinTech of the Year Award

Capricorn Digital Limited; Crowdyvest; Interswitch; JUMO; OPay

Deal of the Year Award – Agriculture

Expansion of Atlantic Shrimpers Limited (ASL) – Access Bank; $200 million corporate facility to BUA Industries Limited – AFC; Multicurrency Facilities Agreement in favour of Canal Sugar Company – Afreximbank/National Bank of Egypt; Ghana Cocoa Board – Nedbank.

Deal of the Year Award – Debt

Bidvest $800m 5NC2 Senior Unsecured bond – Bank of America; Bank of Industry €750 million Debut Senior Note Participation Notes due 2027 – Bank of Industry; Bank One Currency Swap – Bank One Limited; €500 million Benin SDG Bond – Citi; Access Bank $634.5 million Syndicated Facility – Mashreq Bank UAE.

Deal of the Year Award – Equity

Mutandis – Attijariwafa Bank; Momentum Metropolitan – Bank of America; Prosus’ c. $15 billion Accelerated Equity Offering in

Tencent – Citi; Divestment by Sasol of a 30 percent interest in the Republic of Mozambique Pipeline Investments Company (ROMPCO) – Nedbank; MTN Nigeria IPO – Renaissance Capital.

Deal of the Year Award – Infrastructure

The Luanda Bita Water Supply Project – African Trade Insurance Agency; Tanger Alliance – Attijariwafa Bank; Lagos Free Zone Company Funding SPV – Infrastructure Credit Guarantee Company; Gharably Integrated Engineering Company (GIECO) term loan – National Bank of Egypt; Kenya Roads Annuity Programme, Lots 15 and 18 – Standard Chartered.