Thursday, December 13, 2018
Home Tags Access bank

Tag: Access bank

About Access bank Nigeria

Over the past 26 years, Access Bank Plc. has evolved from an obscure Nigerian Bank into a world-class African financial institution. Today, we are one of the five largest banks in Nigeria in terms of assets, loans, deposits and branch network; a feat which has been achieved through a robust long-term approach to client solutions – providing committed and innovative advice.

Access Bank has built its strength and success in corporate banking and is now applying that expertise to the personal and business banking platforms it acquired from Nigeria’s International Commercial bank in 2012. The next two years were spent integrating the business, investing in infrastructure and strengthening the product offer.

As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant.

Changes since inception

In March 2002, the Board of Directors appointed Aigboje Aig-Imoukhuede as Managing Director/Chief Executive Officer and Herbert Wigwe as Deputy Managing Director. The mandate was clear: Reposition the bank as one of Nigeria’s leading financial institutions within a five year period (March 2002 to March 2007). This task was perceived by many as impossible given the realities of the Bank at the time.

Simultaneously, Mr. Gbenga Oyebode, who brought commendable and useful board experience gathered from some of Nigeria’s leading companies, including MTN Nigeria, Okomu Oil Palm Plc, was also appointed to the Board. The new management team subsequently created a transformational agenda for Access Bank which represented a departure from all that characterized the Bank in the past and became the road map for the conversion of the bank into a world class financial institution.

THEIR FOCUS WAS TO:

  • Assemble a credible and high caliber management team
  • Introduce a culture of excellence founded on professionalism and integrity
  • Ensure Human Capital Development
  • Enlarge the shareholder base
  • Introduce strong procedures and processes to drive day-to-day Bank activities
  • Instill a passion for customer service in all members of staff
  • Establish a low cost liability generation strategy
  • Expand branch network to cover all clearing zones within Nigeria
  • Create a world-class brand

The impact of the transformation agenda was reflected in the first year. The bank grew its balance sheet by 100% and posted an impressive N1 billion profit before tax. The profit before tax figure was more than the cumulative profit made by the bank in the previous 12 years. This also marked the beginning of what would be a six year record triple-digit growth trend. Similarly, earnings per share had rebounded to 21 kobo from a negative 2 kobo position, leading to a declaration of a 5 kobo dividend to shareholders for the first time in three years.

In recognition of the role of an enhanced capital structure, the Bank embarked on a capital raising exercise in July 2007. The exercise was an astounding success recording an over subscription of over 300%. The public offer comprised of an Over-The-Counter GDR placement of US$250 million which was similarly oversubscribed by 700%. The Bank’s shareholders fund today stands at over N240 billion with an expanded shareholder base of over 1,000,000 domestic and foreign investors.

Access Bank is consistently seeking for ways to expand its service platform across the African continent. The bank currently operates through a network of about 366 branches across major cities and commercial centers in Nigeria, Gambia, Sierra Leone, Zambia, Rwanda and Democratic Republic of Congo.

READ LATEST NEWS FROM ACCESS BANK NIGERIA BELOW:

- Advertisement -nairabooks x

Recent Posts

Most Popular

FG to improve ease of doing business says Osinbajo

Top Profitable Business Ideas You can start in Nigeria In 2017

The year 2016 is a historic year in Nigeria, a year similar to 1991 with a harsh recession resetting almost all segments of the...
FG Records 8,000 Whistle Blowers In 2017

Sterling Bank Fraud: Blogger, Whistle-Blower Granted Bail By Lagos Court

A Federal High Court in Lagos presided over by Justice Mohammed Idris on Thursday, May 11th, 2017 granted bail to a blogger, Mr. Tega...
National Board for Arabic and Islamic Studies Result Checker

NBAIS releases SAISSCE results – Check here

The National Board for Arabic and Islamic Studies (NBAIS), on Friday released the 2015/2016 Senior Arabic and Islamic Studies School Certificate Examination (SAISSCE) results. Acting...
FG appoints Settlement Banks for Naira/RMB Currency swap

List of First bank sort codes and branches in Nigeria

This article is about List of first bank Nigeria Sort Codes and branches in Nigeria. The sort code is a number which is usually...
20 Budding Nigerian Writers advances in GTBank Dusty Manuscript Contest

List of Guaranty Trust Bank Sort Codes and branches in Nigeria

This article is about List of Guaranty Trust Bank Sort Code and branches in Nigeria. GTBank Sort Code – The sort code is a number which is...