Nigerian Tier one lender Access Bank saw a fall in its reported Earnings per Share (EPS) for 2016 despite the 8 percent increase in net income.
Access Banks Full year 2016 statement of results showed that profits for the year from continuing operations (excluding one-time items), increased to N71.1 billion, from N65.3 billion in 2015.
Despite the increased profits the EPS fell to 250k in 2016 from 265k in 2015 due to the increase in the weighted average number of ordinary shares in issue by 4 billion shares to 28.9 billion shares in 2016 from 24.8 billion in 2015.
Earnings per share (EPS) is the portion of a company’s profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company’s profitability.