Access Bank forecasts slower loan growth in 2016

Access Bank has predicted that its loan book to increase by 10 per cent this year, lower than the 25 per cent growth achieved last year, the bank said on Tuesday.

The top tier lender said it had also forecast growth of 10 per cent last year, but that estimate was exceeded due to increased on-lending activities. In 2014, loan growth was 39 per cent, it said in a presentation.

Access Bank expects to increase its focus on asset quality this year, while pursuing an increase in loans in line with its outlook. It expects return on average equity (ROE) to hit 22 per cent this year, up from 20.4 per cent in 2015.