Company type | Public |
---|---|
NGX: ACCESSCORP | |
Industry | Banking |
Founded | 1989 |
Headquarters | 14/15, Prince Alaba Abiodun Oniru Road, Victoria Island, Lagos, Lagos State, Nigeria |
Key people | Mr. Paul Usoro SAN, Chairman |
Products | Loans, Credit Cards, Savings, Investments, Mortgages |
Revenue | US$1,419 million (NGN:514 billion) (Sept 2019) |
Total assets | US $25.5 billion (NGN: 10.055 trillion) (2021) |
Number of employees | 28,121 |
Website | www |
Access Bank Plc, commonly known as Access Bank, is a Nigerian multinational commercial bank, owned by Access Bank Group. It is licensed by the Central Bank of Nigeria, the national banking regulator. [1]
Originally a corporate bank, they expanded into personal and business banking in 2012. Access Bank and Diamond Bank merged on 1 April 2019. In conclusion of its merger with Diamond Bank, Access Bank unveiled its new logo, signalling the commencement of a new enlarged banking entity. The bank employs more than 28,000 people in 2021. [2]
After the merger, with more than 42 million customers, Access Bank became the largest bank in Africa by customer base, and the largest bank in Nigeria by assets.
As of September 2021, [update] in addition to Nigeria, Access Bank plc has subsidiaries in Mozambique, Zambia, Congo, Sierra Leone, Rwanda, Gambia, Ghana, Kenya, South Africa, and in the United Kingdom. [3] Access Bank Group also maintains representative offices in China, India, Lebanon and United Arab Emirates.
In early 2021, Access Bank announced that it had identified eight new African countries for potential expansion, seeking to benefit from a continent-wide free trade agreement. The target markets are Morocco, Algeria, Egypt, Côte d'Ivoire, Senegal, Angola, Namibia and Ethiopia, which would extend the international presence of the bank to 18 countries. Access Bank is expected to establish offices in some countries and in others, should partner with existing banks and leverage its digital platforms to provide services to clients.
In July 2021, the French government manifested its will to strengthen its ties with Nigerian captains of industry including Herbert Wigwe, the group managing director of Access Bank, and announced that an agreement had been signed which would allow the group to settle in France. This agreement confirms the group's vision and desire to extend its influence and activities to all of France and gradually to all of Europe.
The opening of Access Bank in Paris will be managed by the group's London branch, headed by Britain's Jamie Simmonds. The new offices in France will focus on trade finance. The Nigerian bank is also considering embarking on investment and wealth management services.
Access Bank plc is a large financial-services provider. In June 2021, the bank had an asset base in excess of US $25,5 billion (NGN: 10,055 trillion), and shareholders' equity valued at approximately US$1.87 billion (NGN: 775 billion). [4] (Note that US $1.00 = NGN 413 on 1 November 2021.)
The bank received its license from the Central Bank of Nigeria in 1989, and listed on the Nigerian Stock Exchange in 1998.
The bank's headquarters is located at 14/15, Prince Alaba Abiodun Oniru Road, Victoria Island, Lagos, Lagos State, Nigeria in the city of Lagos, the most commercial city of Nigeria. The coordinates of the bank's headquarters are: 6.4333751, 3.4453135. [15]
In October 2024, the bank launched a platform called The Power of 100 Africa initiative to celebrate women across Africa who have blazed trails in education, business, technology, healthcare, social work and other important sectors of the economy. [16]
It was named the Consumer Finance Product of the Year in 2024 by the Middle East & Africa Retail Banking Innovation Awards. [17] [18]
It was also named the Nigeria's Best Bank in 2024 by the Euromoney Awards. [17]
First City Monument Bank (FCMB), a member of FCMB Group Plc, is a financial services holding company headquartered in Lagos. FCMB Group Plc has nine subsidiaries divided among three business groups: commercial and retail banking, investment banking, and asset and wealth management. As of December 2020, the group's total assets were valued at US$5 billion.
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Access Bank Botswana, is a commercial bank formerly known as BancABC Botswana, that is headquartered in Gaborone, Botswana. In October 2021, Access Bank Group concluded the acquisition of 78.15 percent shareholding in the stock of the erstwhile BancABC Botswana. The bank subsequently rebranded to its current name to reflect its shareholding. The shares of stock of Access Bank Botswana are traded on the Botswana Stock Exchange, under the symbol: ACCESS. The company shareholding amounting to 21.85 percent that is not controlled by Access Bank Group is free-floating on the BSE.
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Access Bank Rwanda is a commercial bank in Rwanda. It is one of the commercial banks licensed by the National Bank of Rwanda, the national banking regulator.
Access Bank Group is a financial services conglomerate, headquartered in Nigeria, with subsidiaries in Angola, the Democratic Republic of the Congo, Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, The Gambia, Guinea, Cameroon, Sierra Leone, Mozambique, Botswana, South Africa, Tanzania, Uganda, Zambia, France and the United Kingdom. The group also maintains representative offices in China, India, Lebanon and United Arab Emirates.
NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the country's central bank and national banking regulator.
FinBank Plc., also referred to as Finbank Nigeria or FinBank, was a commercial bank in Nigeria.
Access Bank Kenya (ABK), whose complete name is Access Bank (Kenya) PLC, formerly Transnational Bank Kenya PLC, is a commercial bank in Kenya. It is licensed and regulated by the Central Bank of Kenya, the national banking regulator.
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