Access Holding’s FY 2023 audited numbers showed a 99.9% y/y growth in Interest Income (18.5% higher than our forecast) driven by growth in both Interest Income on Net Loans and yields on investment securities due to a higher yield environment and growth in earnings assets. Yield on earning assets increased to 12.8% in 2023 from 9.2% in 2022. Net Loans grew 57.6% in December 2023 compared with December 2022 inclusive of the impact of devaluation on foreign currency loans.
