Access Financial Services Ltd (AFS) Suffers Sharp Drop In Q2 Profits Due To Fewer Loans – Sep 2020 Results

Access Financial Services Ltd (AFS) has released their September 2020 (Q2) numbers. Here are the highlights.

This Quarter (2021Q2) vs Same Quarter Last Year

  • Operating Income totaled $457.17m vs $572.42m (-20.13%)
    Interest income down 12% ($52m) and Fee income down 43% ($82m). Due to lower loan disbursements for the period
  • Net Income¬†totaled $28.54m vs $114.60m (-75.09%)
    Sharp drop in profits mainly due to lower (interest and fee) income earned from loans. Income is down $115m plus Credit loss allowances also up slightly
  • Loans and Advances was $3.89b vs $4.38b (-11.18%)
    Down due to the lower level of disbursements this year

This is just a summary. For more charts, ratios and other details visit AFS’s page here

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