Access Financial Services Ltd (AFS) Releases Sep 2022 (Q2) Results – Loss vs PY, Small Loan Growth

November 12, 2022
Share price
$22.25
This Month
-11.07%
This Year
+9.39%

Access Financial Services Ltd (AFS) released their September 2022 (Q2) numbers on Wed Nov 02, 22 (2 weeks ago). Here are the highlights.

This Quarter (2023Q2) vs Same Quarter Last Year
  • Cash & Cash Equivalents of $728.20m vs $397.28m (83.30%)
  • Loans and Advances of $4.76b vs $4.38b (8.66%)
    due to a higher level of disbursements
  • Operating Income totaled $518.19m vs $507.15m (2.18%)
  • Net Income / Net Loss totaled $55.46m vs $90.25m (-38.54%)
    Most income and expense items remain in-line except ‘Other Operating Expenses’ which grew mainly to increases in staff costs, non-recurring debt refinancing expenses, and loans written off
  • Cash Flow From Operating Activities was $569.83m vs -$10.02m (-5,789.16%)
    Increased cash inflows due to loan repayments vs prior year when repayments were lower
Net Income / Net Loss
Quarterly Financials 28.54m 2021Q2 66.30m 2021Q3 137.84m 2021Q4 89.36m 2022Q1 90.25m 2022Q2 – 2022Q4 55.46m 2023Q2

The principal activity of the Group is retail lending to the micro enterprise sector for personal and business purposes. Funding is provided by financial institutions, government entities and non-governmental organizations. The Company also operates a money services division and offers bill payment services. Access Financial Services Limited (the Company) is incorporated and domiciled in Jamaica and its registered office is situated at 41B Half-Way Tree Road, Kingston 5, Jamaica W.I. The Company acquired a 100% shareholding in its subsidiary, Embassy Loans Inc., on December 15, 2018.

This entry was posted in Earnings. Bookmark the permalink.