Access continues on growth path
Brian Goldson, non-executive chairman of the board at Access Financial Services Limited (left) shares a moment with the company’s chief executive officer, Marcus James (second left) and Access marketing manager, Deveta McLaren (second right) as well as Alexander Johnson, business devlopment manager (right). For the financial year ending December 2012, Access achieved revenues of $661 million and net profit $238 million, representing a 33 per cent and 47 per cent increase respectively when compared with 2011. The plan for 2013 is to improve operational efficiencies and continuous product development and enhancement, the company said. The lender already posted an increase in net profit during the first three months of 2013, when it earned after-tax profit of $61.5 million, compared to $42 million during the same period in 2012. The improved performance reflected higher revenue — $173 million, up from $154 million in the first quarter of last year — and marginally higher operating expenses, which was $105.9 million during the review quarter, compared to $105.4 million during the first three months of 2012. The lender’s net loan portfolio stood at $801 million at the end of March 2013, reflecting an increase of 18 per cent over the same period last year. Both loan categories within the portfolio recorded growth: Personal loans totaled $659 million as at March 31, 2013, up from $493 million a year before, while business loans totaled $142 million, up from $100 million a year earlier. (Photo: Lionel Rookwood)