.myAccessBank Vulnerable To Oil Shocks, Naira Devaluation -MoodysInvSvc | Sahara Reporters “Access’ asset quality remains vulnerable to an oil price decline or a depreciation of the naira, the local currency, because of its high exposure to...' READ MORE:
Access Bank’s assets are exposed to a fall in oil prices and a depreciation of the naira. Sighting Access bank’s nine-month result which was released on September 9, Moodys said 30 percent of the lender’s gross loan was owned by debtors in the oil and gas sector.
The report noted that the expected net value of shareholder equity to asset ratio of a bank of Access’ standing, should be a minimum of 13 percent. The firm stated that the NPL ratio of the newly merged institution dropped from 14.1 percent as of January 2019 to 6.4 percent as of June 30, 2019. “A lower NPL ratio will provide the bank with room to grow its assets, supporting revenue growth,” Moodys said.
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