SPREAD SHEET ANALYSIS

ACCESS BANK PLC

31ST DEC. 2016
N'000
---------------------------------------------------------------------------------------------------------------------------------
1 Cash & equivalent 59,638,205
2 T/Bills, T/Cert, Trade Bills, BAs 263,581,820
3 Quoted investments 58,479,754
----------------------------------
4 LIQUID ASSETS 381,699,779
----------------------------------
5 Balances/Placements with Nigerian banks 88,754,197
6 Balances with banks outside Nigeria 0
7 Balances /Placement with other FIs. 71,417,183
Less: Prov for non-perf. I/B place. in Nig 0
----------------------------------
8 TOTAL BALANCES/PLACEMENTS 160,171,380
----------------------------------
9 Direct loans and advances - Gross 1,728,867,819
10 Less: Cummulative loan loss provision (30,298,900)

11 Direct loans & advances - net 1,698,568,919

12 Advances under finance leases - net
----------------------------------
13 TOTAL LOANS - NET 1,698,568,919
----------------------------------
14 Interest receivable - Accrued Income
15 Other Facilities 0
16 Prepayments 16,668,917
17 Interest paid in advance/DEF TAX 0
18 Other Accounts Receivable/assets 207,678,057
19 Provision For Doubtful Accounts (2,967,858)
----------------------------------
20 TOTAL OTHER ASSETS 221,379,116
----------------------------------
21 Restricted funds (i.e. CBN) 298,187,664
22 Unconsolidated subsidiaries & associates 59,239,252
23 Other long-term investments 198,716,148
----------------------------------
24 TOTAL OTHER LONG-TERM ASSETS 556,143,064
----------------------------------
25 Fixed assets under operating leases
26 Property, plant & equipment - for own use 71,824,472
27 Goodwill & other intangible assets 5,173,784
----------------------------------
28 TOTAL FIXED ASSETS & INTANGIBLES 76,998,256
----------------------------------

29 TOTAL ASSETS 3,094,960,514

30 Acceptances & direct credit substitutes 0

31 Guarantees, indemnities e.t.c.
32 Other contingents
----------------------------------
33 TOTAL CONTINGENT ASSETS 0
----------------------------------

34 TOTAL ASSETS & CONTINGENTS 3,094,960,514

================
 SPREAD SHEET ANALYSIS
31ST DEC. 2016
CAPITAL & LIABILITIES N'000
------------------------------------------------------------- ----------------------------------
35 Share capital 14,463,986
36 Share premium 197,974,816
37 Statutory reserve 0
38 Exchange difference reserve / SME RESERVE
39 Deposit for shares/other reserves-Capital 115,910,630
Reserve for bonus issue/current Year
40 Profit/RETAIN EARNINGS 93,329,188
41 General/Revenue Reserve 0
------------------------
42 TIER 1 CAPITAL (CORE CAPITAL) 421,678,620
------------------------
43 Revaluation surplus 0
44 Redeemable preference shares/ RET BENEFITS 3,064,597
45 Other long-term liabilities/O.BORROWINGS 616,132,203
--------------------------
46 TIER 2 CAPITAL 619,196,800
------------------------
47 Demand/Current Account 853,780,226
48 Savings Account 159,767,071
49 Time 799,495,575
50 Interbank Takings 26,209,999
51 Customers' FX balances 68,912,189

52 TOTAL DEPOSIT LIABILITIES 1,908,165,060

----------------------------------
53 Accruals & Rebates
54 Unearned interest & discount
55 Provision for Contingencies/DEF TAX 3,101,753
56 Taxation payable - current 5,004,160
57 Dividend payable / OTHER FACILITIES 0
58 Other accounts payable/liabilities 137,814,122
----------------------------------
59 TOTAL OTHER LIABILITIES 145,920,035
----------------------------------

60 TOTAL CAPITAL & LIABILITIES 3,094,960,515

61 Acceptances & direct credit substitutes 0

62 Guarantees, indemnities e.t.c. 0
63 Other contingents 0
----------------------------------
64 TOTAL CONTINGENT LIABILITIES 0
----------------------------------

65 TOTAL CAPITAL, LIABILITIES & CONTINGENTS 3,094,960,515

================
CHECK (1)
 SPREAD SHEET ANALYSIS
INCOME STATEMENT
------------------------------------------------------------- ----------------------------------
31ST DEC. 2016
N 'million
------------------------------------------------------------- ----------------------------------
66 Interest income 210,794,456
67 Interest expense (94,777,050)
--------------------------
68 NET INTEREST MARGIN BEFORE LOAN LOSS 116,017,406
69 Loan loss (expense)/ recoveries (17,641,127)
----------------------------------
70 NET INTEREST MARGIN AFTER LOAN LOSS 98,376,279
----------------------------
71 FOREIGN EXCHANGE (94,434)
72 COMMISSIONS 45,992,484
73 FEES & OTHER INCOME 74,308,466
----------------------------------
74 NET EARNINGS 218,582,795
----------------------------------
75 STAFF COST (42,153,587)
76 DEPRECIATION EXPENSE (9,629,028)
77 OTHER OPERATING EXPENSES (86,220,604)
----------------------------------
78 OPERATING EXPENSES (138,003,219)
----------------------------------
79 PROFIT BEFORE TAX BEFORE UNUSUAL ITEM 80,579,576
80 UNUSUAL (INCOME)
81 UNUSUAL EXPENSE
----------------------------------
82 PROFIT BEFORE TAX AFTER UNUSUAL ITEM 80,579,576
83 TAX EXPENSE/(BENEFIT) (16,553,441)

84 PROFIT AFTER TAXATION 64,026,135

 Other Comprehensive Income ()CI) net of
Inccome tax
Items that will not be subsequently
reclassfied to income Statement:

-Remeasurement of post -employment

benefit obligations 2,590,139
Items that may be subsequently reclassfied
to income Statement:
Foreign Currency translation differently
differences for freign subsediaries

- Unrealised (losses) / gains during the

period 0

-Realised gain during during the period 0

Net changes in fair value of AFS financial
lnstrument
-Fair Value changesduring the period 10,063,039

Other Comprehensive Gain, net related Tax

effects 12,653,178

Total Comprehensive Income for the period 76,679,313

Rofit attributable to :
- Owner of the Bank 0
-Non Control Interst 0

Profit for the perod 0

Total Comprehensive Income attributable To

- Owner of the Bank 76,679,313
-Non Control Interst
total Compehensive Income for the period 76,679,313
Total comprehensiveIncome for the period
aaributable to parent: 76,679,313

85 STATUTORY RESERVE 0
86 DEBENTURE REDEMPTION RESERVE 0
87 PROPOSED DIVIDEND 0
88 SCRIP ISSUES 0
89 BONUS ISSUE/OTHER COMPREHENSIVE INCOM 0
----------------------------------
90 RETAINED PROFIT 76,679,313
91 RETAINED PROFIT B/FWD 0
------------------------------------------------
92 RETAINED PROFIT C/FWD 76,679,313
================
93

94 GROSS EARNINGS 331,000,972

================
95 KEY RATIOS
 ------------------------------------------------------------- -------------------------------------------------
96 31ST DEC. 2016
----------------------------------------------------------------------- -------------------------------------------------
97 PROFITABILITY RATIOS
Net interest margin 55.04%
98 Loan loss exp or recov)/Interest income 8.37%
Operating expenses/Net earnings 63.14%
99 Return on assets 2.07%
Return on equity 15.18%
100 Net interest income/Total Loans Net 6.83%
Break-Even Yield 4.69%
101 Gross Earnings Assets Yield 0.10
Other Income/Adj.Operating Income 0.36
102 Interest expense/Total Loans Net 5.58

103 LIQUIDITY RATIOS

Total loans - net/Total assets & contingents 54.88%
104 Total loans - net/Total Dep Liab. 89.02%
Balances or placement/Total Dep Liab. 4.65%
105 Demand Dep/Total Deposits 44.74%
Savings Dep/Total Deposits 8.37%
106 Time Dep/Total Deposits 41.90%
Foreign Banks Bals/Total Deposits 1.37%
107 Customer Fx Bal/Total Deposits 3.61%
Liquidity ratio 40.96%
108 Funding ratio 55.61%
Large liability dependence 1.30%
109 MATURITY PROFILE OF DEPOSIT LIABILITIES
110 Under 1 month 0
111 1 - 3 months 0
112 3 - 6 months 0
113 6 - 12 months 0
114 Over 12 months 0
----------------------------------
115 TOTAL LIABILITIES 0
----------------------------------

116 MATURITY PROFILE OF LOANS & ADVANCES

117 Under 1 month 0
118 1 - 3 months 0
119 3 - 6 months 0
120 6 - 12 months 0
121 1 - 3 years 0
122 Over 3 years 0
----------------------------------
123 TOTAL LOANS & ADVANCES 0
----------------------------------

CUMULATIVE CASH INFLOW (OUTFLOW)

124 Under 1 month 0
125 1 - 3 months 0
126 3 - 6 months 0
127 6 - 12 months 0
128 Over 12 months 0
TOTAL ---------------
0
-------------

KEY RATIOS
------------------------------------------------------------- ----------------------------------
31ST DEC. 2016
------------------------------------------------------------- ----------------------------------
MAXIMUM CUMULATIVE CASH INFLOW (OUTFLOW)
129 Under 1 month 0
130 1 - 3 months 0
131 3 - 6 months 0
132 6 - 12 months 0
133 Over 12 months 0

ASSET QUALITY RATIOS

134 PERFORMING LOANS 1,693,646,990
NON-PERFORMING LOANS: 0
135 Sub-standard loans 3,673,900
136 Doubtful loans 0
137 Lost loans 31,546,928
----------------------------------
138 TOTAL NON-PERFORMING LOANS 35,220,828
----------------------------------
139 TOTAL LOANS 1,728,867,818
140 Non-performing loans/Total loans - Gross 2.04%
141 Loan loss provision/Total loans - Gross 1.75%
142 Loan loss provision/Non-performing loans 86.03%
143 Non Performing Loans/Capital & Reserves 8.4%
144 Loan Yield 12.19%
145 Loan Loss/Charge-off 0.00

CAPITAL ADEQUACY RATIOS

146 Tier 1 capital 419,472,694
147 Tier 2 capital (56,174,655)
148 Adjusted capital 363,298,039
149 Risk-weighted assets 2,612,157,582
150 Adjusted capital/risk weighted assets 13.91%
151 Adjusted capital ratio(Net loan/Adj. Cap) 33.63%
152 Total fixed assets & intangibles/capital 7.40%
153 Capital Formation Ratio 0
154 Dividend Payout 0.00

EARNINGS BREAKDOWN
155 Fund based (i.e. net interest margin) 45.01%
156 Foreign Exchange -0.04%
157 Commissions 21.04%
158 Fees & other 34.00%

STAFF INFORMATION
159 Average number of employees 0
160 Staff cost per employee (N'000) 0.00
161 Net earnings per staff #DIV/0!
162 Staff cost/Net earnings 19.28%
163 Staff cost/Operating expenses 30.55%
 31ST DEC. 2015
N'000
--------------------------------------------------------------- ---------------------
1.9% 50,979,509 2.1%
8.5% 164,330,468 6.8%
1.9% 44,819,544 1.9%
------------------ ------------------------------ ------------------
12.3% 260,129,521 10.8%
------------------ ------------------------------ ------------------
2.9% 32,678,216 1.4%
0.0% 0 0.0%
2.3% 74,158,434 3.1%
0.0% 0.0%
------------------ ------------------------------ ------------------
5.2% 106,836,650 4.4%
------------------ ------------------------------ ------------------
55.9% 1,330,545,199 55.2%
-1.0% (26,915,169) -1.1%
------------------------------------------------- ------------------
54.9% 1,303,630,030 54.0%
0.0% 0.0%
------------------ ------------------------------ ------------------
54.9% 1,303,630,030 54.0%
------------------ ------------------------------ ------------------
0.0% 0.0%
0.0% 0 0.0%
0.5% 8,494,119 0.4%
0.0% 10,180,832 0.4%
6.7% 161,225,639 6.7%
-0.1% (2,660,577) -0.1%
------------------ ------------------------------ ------------------
7.2% 177,240,013 7.3%
------------------ ------------------------------ ------------------
9.6% 248,182,477 10.3%
1.9% 45,439,246 1.9%
6.4% 199,607,832 8.3%
------------------ ------------------------------ ------------------
18.0% 493,229,555 20.4%
------------------ ------------------------------ ------------------
0.0% 0.0%
2.3% 65,900,384 2.7%
 0.2% 4,977,908 0.2%
------------------ ------------------------------ ------------------
2.5% 70,878,292 2.9%
------------------ ------------------------------ ------------------

100.0% 2,411,944,061 100.0%

0.0% 0 0.0%
0.0% 0.0%
0.0% 0.0%
------------------ ------------------------------ ------------------
0.0% 0 0.0%
------------------ ------------------------------ ------------------

100.0% 2,411,944,061 100.0%

========= =============== =========
 31ST DEC. 2015
N'000
------------------ ------------------------------ ------------------
0.5% 14,463,986 0.6%
6.4% 197,974,816 8.2%
0.0% 0 0.0%
0.0% 0.0%
3.7% 98,531,000 4.1%

3.0% 49,459,102 2.1%

0.0% 0 0.0%
------------------ ------------------------ ------------------
360,428,904
------------------ ------------------------ ------------------
0.0% 0 0.0%
0.1% 5,567,800 0.2%
19.9% 381,436,642 15.8%
------------------ -------------------------- ------------------
20.0% 387,004,442 16.0%
------------------ ------------------------ ------------------
27.6% 767,609,081 31.8%
5.2% 127,786,239 5.3%
25.8% 632,818,563 26.2%
0.8% 1,522,968 0.1%
2.2% 61,820,817 2.6%
------------------ ------------------
28.9% 1,591,557,668 28.9%
------------------ ------------------------------ ------------------
0.0% 0.0%
0.0% 0.0%
0.1% 0.0%
0.2% 6,442,311 0.3%
0.0% 0 0.0%
4.5% 66,510,736 2.8%
------------------ ------------------------------ ------------------
4.7% 72,953,047 3.0%
------------------ ------------------------------ ------------------

53.6% 2,411,944,061 47.9%

0.0% 0 0.0%
 0.0% 0 0.0%
0.0% 0 0.0%
------------------ ------------------------------ ------------------
0.0% 0 0.0%
------------------ ------------------------------ ------------------

100.0% 2,411,944,061 100.0%

========= =============== =========
0
------------------ ------------------------------ ------------------
31ST DEC. 2015
N 'million
------------------ ------------------------------ ------------------
63.7% 184,047,834 60.9%
-28.6% (94,001,878) -31.1%
------------- -------------------------- -------------
35.1% 90,045,956 29.8%
-5.3% (13,287,613) -4.4%
------------------ ------------------------------ ------------------
29.7% 76,758,343 25.4%
-------------- ---------------------------- --------------
0.0% 23,205,265 7.7%
13.9% 25,892,284 8.6%
22.4% 68,916,592 22.8%
------------------ ------------------------------ ------------------
66.0% 194,772,484 64.5%
------------------ ------------------------------ ------------------
-12.7% (35,699,471) -11.8%
-2.9% (9,086,366) -3.0%
-26.0% (84,808,733) -28.1%
------------------ ------------------------------ ------------------
-41.7% (129,594,570) -42.9%
------------------ ------------------------------ ------------------
24.3% 65,177,914 21.6%

-------------------------------
65,177,914
-5.0% (6,253,169) -2.1%
------------------ ------------------
19.3% 58,924,745 19.5%
 (1,061,292)

3,457,636

2,396,344

61,321,089

0
0

61,321,089

61,321,089

61,321,089

0.0% 0 0.0%
0.0% 0 0.0%
0.0% 0 0.0%
0.0% 0 0.0%
0.0% 0 0.0%
------------------ ------------------------------ ------------------
 19.3% 61,321,089 19.5%
0
------------------- ------------------------ ------------------
61,321,089
===============

302,061,975 100.0%
=============== =====
------------------------ ------------------------------ ------------------
31ST DEC. 2015
------------------------ ------------------------------ ------------------

48.93%
7.22%
66.54%
2.44%
16.35%
6.91%
6.21%
0.12
0.39
7.21

54.05%
81.91%
2.05%
48.23%
8.03%
39.76%
0.10%
3.88%
35.83%
59.57%
0.10%
 0
0
0
0
0
------------------------------
0
------------------------------

0
0
0
0
0
0
------------------------------
0
------------------------------

0
0
0
0
0
---------------
0
-------------

------------------------------
31ST DEC. 2015
------------------------------

0
0
0
0
 0

1,298,993,469
0
11,554,825
0
19,996,906
------------------------------
31,551,731
------------------------------
1,330,545,200
2.37%
2.02%
85.30%
8.8%
13.83%
0.00

358,111,573
(39,871,446)
318,240,127
2,086,437,661
15.25%
30.99%
9.48%
0
0.00

39.41%
11.91%
13.29%
35.38%

0
0.00
#DIV/0!
18.33%
27.55%
ACCESS BANK PLC
PROPOSED BALANCE SHEET AND INCOME RATIO BENCHMARKS

Key Ratio
MGT A/C
CAPITAL ADEQUACY CBN MIN Err:509 JUN. 2008

1.adjusted capital/risk weighted 10% min. Err:509 ###

2. Tier 1 Capital/Adjusted Capital 50% min Err:509 ###

ASSET
QUALITY/STRUCTURE:
Non-perf loans/Total Loans % 10% max Err:509 ###
Loan loss prov/Total loan % 5% min Err:509 ###
Loan Loss Prov/Non-Perf Loans % 80% - ###

LIQUIDITY:

Liquid Assets/Total Dep*100% Err:509 Err:509

Total Loans/Total Deposit*100% Err:509 ###
Demand Dep/Total Dep*100% Err:509 ###
Savings Dep/Total Dep*100% Err:509 ###
Time Dep/Total Dep*100% Err:509 ###
Public Sector dep/Total Dep*100% 0.00
CBN Liquid Ratio CBN Minim 25% Err:509 ###
CBN Cash reserves requi CBN Mini 1% Err:509 Err:509
EARNING/PROFITABILITY

Return on Equity % (ROE) 5% min Err:509 ###

Return on Assets % (ROA) 15%min Err:509 ###
Net Interest Margin % (NIM) 50% min Err:509 ###
Operating Expense/Gross Earning % Err:509 ###
PBT/Gross Earnings % Err:509 ###
Staff Cost/Gross Earnings % Err:509 ###
Earnings per Share (EPS) - ###
 ACCESS BANK PLC
BANK RATING
ASSET QUANTITATIVE QUALITATI
CATEGORY CRITERIA VE
CRITERIA
FACTOR COMPONENT Err:509 COMPONE
NT COMPONE
COMPONENT NT
WEIGHT WEIGHT
FINANCIAL ANALYSIS Capital Adequacy 0 Quality of
20 Manageme 5
Asset Quality 20 - nt
Liquidity 20 -
Profitability 10 -
VAR for contingent 0 Public
liabilities - FMBN 10 Confidence 5
Market
dominance
/ 5
reputation
External
Rating

3
Stock price
behaviour 2
TOTAL SCORES 0.00 SCORES
80 20

RATING VULNERABLE
Err:509

###
0
###

-
###
-

###
-

###
-
###
0.0
###
0.00
###
A
D
ACCESS BANK PLC
PROPOSED BALANCE SHEET AND INCOME RATIO BENCHMARKS

Key Ratio

CAPITAL ADEQUACY CBN MIN 31ST DEC. 2016

N'000
1. Adjusted Capital/Risk Weighted Asse10% min. 13.91%
2. Tier 1 Capital/Adjusted Capital 50% min 115.46%

ASSET
QUALITY/STRUCTURE:
Non-perf loans/Total Loans % 5% MAX 2.04%

LIQUIDITY:

Liquid Assets/Total Dep*100% 20.00%

Total Loans/Total Deposit*100% 89.02%
Demand Dep/Total Dep*100% 44.74%
Savings Dep/Total Dep*100% 8.37%
Time Dep/Total Dep*100% 41.90%
Public Sector dep/Total Dep*100% 0.00%
CBN Liquid ratio CBN Minim 30%MIN 40.96%
CBN Cash reserves requi CBN Mini 22.5% MIN 15.63%

EARNING/PROFITABILITY

Return on Equity % (ROE) 7% MIN 15.18%

Return on Assets % (ROA) 1%MIN 2.07%
Net Interest Margin % (NIM) 60% MIN 55.04%
Operating Expense/Gross Earning % 63.14%
PBT/Gross Earnings % 24.34%
Staff Cost/Gross Earnings % -12.74%
Earnings per Share (EPS) 0.00%
31ST DEC. 2015
N'000
15.25%
112.53%

2.37%

16.34%
81.91%
48.23%
8.03%
39.76%
0.00%
35.83%
15.59%

16.35%
2.44%
48.93%
66.54%
21.58%
-11.82%
0.00%
 ACCESS BANK PLC
BANK RATING

QUANTITATIVE CRITERIA QUALITAT

ASSET COMPONEN 31ST DEC. 31ST DEC.

FACTOR COMPONENT COMPONENT
CATEGORY T WEIGHT 2016 2015

FINANCIAL Quality of
ANALYSIS Capital Adequacy 20 20 20 Management
Public
Asset Quality 20 20 20 Confidence
Market
dominance /
Liquidity 20 10 10 reputation

Profitability 10 8 8 External Rating

Stock price
behaviour
FMBN NHF
CONT.
FMBN BG
EXPOSURE

SCORES

TOTAL SCORES 70 58 58
RATING GRADE RISK GUIDE PLACEMENT
CRITERIA (%) LIMIT
AA 90 - 100 VERY STRONG UP-TO-5.5B
POSITION
A 80 - 89 STRONG POSITION UP-TO-4.5B
B 70 - 79 GOOD POSITION
UP-TO-2.5B

C 60- 69 ADEQUATE
POSITION UP-TO-1.25B

D 50- 59 VULNERABLE TO
DEF EXIT

E BELOW 50 STRONG EXIT

POSSIBILITY
QUALITATIVE CRITERIA

31ST
COMPONENT 31ST DEC.
DEC.
WEIGHT 2015
2016

5 4 4

3 2 2

2 1 1

5 3 3

5 3 3

5 5 5

5 4 4

30 22 22
80.1 80.1
RATING A A