14/15 Prince Alaba Abiodun, Oniru Road, Victoria Island, Lagos, Nigeria.
Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.
Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The Bank serves its various markets through four business segments: Retail, Business, Commercial and Corporate. The Bank has over 900,000 shareholders (including several Nigerian and International Institutional Investors) and has enjoyed what is arguably Africa's most successful banking growth trajectory in the last twelve years. Following its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base.
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, helping customers to access more and achieve their dreams.
In honour of its defining roles across the African continent, Access Bank has been accorded recognition by reputable domestic and global organisations. Some of these recognitions include: 2019 World Finance Award “Best Digital Bank in Nigeria”; 2019 World Finance Award “Best Mobile App in Nigeria”; 2019 Karlsruhe Sustainable Finance Awards; “Outstanding Business Sustainability Achievement”; 2018 Euromoney Private Banking Awards “Best Commercial Banking Capabilities”; 2018 Euromoney ‘Africa’s Best Bank for CSR’ Award; 2018 CBN ‘Sustainable Bank of the Year’; ‘Sustainable Transaction of the Year (Oil & Gas)’, ‘Sustainable Transaction of the Year (Power)’; 2018 Global Banking and Finance Review, “Best Investor Relations Bank in Nigeria”; 2018 SERAS ‘Most Sustainable Company in Africa”, 2019 CEO Awards Forum “Gender Leader of the Year” just to mention a few.
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.
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.
THE FOCUS WAS TO:
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.
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.
Access Bank continued its impressive growth trend, both organically and by acquisition, and quickly became one of Nigeria’s leading corporate banks with a reputation for strong compliance, risk management and trade finance. In 2012 it become a top five bank in Nigeria following its acquisition of Intercontinental Bank and began to build a pre-eminent position in retail as well as corporate banking.
By 2013 Access Bank had become AA- rated by S&P and was able to raise capital in the global bond markets, with its first successful US$350m Eurobond issuance taking place in July 2012. Access Bank vowed to become the world’s most successful African Bank and embarked upon a new five year strategy focused on financial inclusion, women and youth as well as global trade finance, treasury and payments for the corporate sector. Its sights were by now firmly set on becoming a top three bank in all the markets in which it operated.
Access Bank continued to build out its operations across the continent and in global trade hubs, determined to capture Africa’s trade flows with the rest of the world and within the continent. In 2017 Access Bank set out its next five year strategy, focused creating a global payments infrastructure which would enable it to become Africa’s gateway to the world.
Building a strong retail bank which was digitally-led and omni-channel was a key pillar for Access Bank’s ambitious growth strategy, along with consolidating its strengths in corporate banking. In 2018 it saw the opportunity to accelerate its five-year plan with the merger of Diamond Bank, Nigerian’s leading retail bank with 19 million customers, including 10 million mobile customers, and a strong reputation for data analytics and technological innovation.
Access Bank today is the largest bank in Nigeria and Africa’s leading bank by customer base. It is a full service commercial bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 36 million customers. The Bank employs 28,000 thousand people in its operations in Nigeria, Sub Saharan Africa and the United Kingdom, with representative offices in China, Lebanon, India and the UAE. It continues to look at opportunities to build its network in global trade and payment centres, helping Africa to play its part on the world stage.
The Group's main business activities are organised along four customer segments, each served by Strategic Business Units (“SBUs”) as follows:
Corporate and Investment Banking
The Corporate and Investment Banking SBU focuses on multinational, well-structured large local and foreign owned companies with minimum annual turnover of ₦20 billion and with risk rating falling within a specified limit, as well as financial institutions in the banking, capital markets, pensions and insurance sub-sectors. The Corporate and Investment SBU's sector focus include the cement and construction, communications, manufacturing, upstream oil and gas, and financial institutions sectors, and selective focus in the downstream oil & gas, power, transportation, agriculture and real estate sectors. The Corporate and Investment Banking SBU's Financial Markets unit offers clients a wide range of financial services including treasury (trading in fixed income and currency products), corporate finance, project finance and structured finance (acquisition and leveraged finance services). This division is also responsible for the Group's relationships with domestic and international financial institutions (including Development Finance Institutions ("DFIs").
Commercial Banking
The Commercial Banking SBU focuses on incorporated companies with turnover of ₦1 billion and above (excluding companies that meet Corporate and Investment Banking SBU customer criteria), Federal Government ministries, departments and agencies, as well as state and local governments. The Commercial Banking SBU's target market includes companies that are within the Corporate and Investment Banking value chain, as well as Federal, State, and Local Governments. Specific target customers include Asian companies in key sectors/industries and select states/cities, manufacturing companies, consumer, hospitality and lifestyle companies and contractors in select sectors (Oil and Gas, Construction and Real Estate).
Business Banking
The Business Banking SBU focuses on companies and small and medium enterprises ("SMEs") with annual turnover of not more than ₦1 billion. The Business Banking SBU's target market model focuses on the implementation of a [holistic] SME partnership and advisory programme while extending its global facility framework to cover the SME segment of the value chain of selected Access Bank corporate and commercial banking customers.
Personal and Private Banking
The Personal Banking section of the SBU focuses on affluent professionals, employees in the value chain of the Group's corporate clients, as well as students, pensioners, employees of religious organizations and informal traders, while the Private Banking section focuses on High Net-worth Individuals (HNI) and Ultra-High Net-worth Individuals (UHNI).
Our Vision
To be the world's most respected African bank.
Our mission
Setting standards for sustainable business practices that unleash the talents of our employees, deliver superior value to our customers and provide innovative solutions for the markets and communities we serve.
Our core values
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