News Column

Access Bank Supports the Broader Community as its UK Subsidiary Experiences Continued Success in its Business

June 14, 2014



LONDON, June 14, 2014 /PRNewswire/ --


Access Bank Group supports UNICEF through the high-profile Access Bank Charity Shield polo matches in Nigeria that have run for the past five years in conjunction with 5th Chukker. The sponsorship provides a platform for supporting orphaned and vulnerable children in Nigeria through its annual donation in association with 5th Chukker & UNICEF. Three years ago this platform was extended to the UK and this year, for the third year running, The Access Bank UK, Access Private Bank, Unicef and Fifth Chukker hosted the 'Access Bank Day' at Ham Polo Club on Saturday June 14.

(Photo: http://photos.prnewswire.com/prnh/20140614/692888 )


Together Access Bank plc and Fifth Chukker have raised more than N100m (GBP368,000) for UNICEF.

Access Bank Plc Group managing director Herbert Wigwe highlighted that the aim of the event at Ham Polo Club is to raise further awareness of the issues and support required.

Mr Wigwe explained: "Our support for the Fifth Chukker UNICEF initiative comes from the fact that we are conscious of our role as a change agent in Nigeria that can help institute socio-economic development through responsible business practice and environmental considerations. We are part of the community and as such should support its wellbeing."

The Access Bank Polo Day at Ham was hosted by The Access Bank UK Limited which has just published its Report and Financial Statements for the year ended December 31, 2013. These show, among other impressive growth indicators, that in 2013 the Bank continued to grow the range of services provided by its Private Bank offering. This saw the assets under management for its clients rise to $47.9 million, an increase of 131%. Overall the Bank grew its profit after tax by 30% to GBP2.3 million. It has also achieved exponential growth of 83% over the last 3 years.

Commenting on these figures, The Access Bank UK's chief executive officer and managing director Jamie Simmonds said:

"We believe we have succeeded in the current financial climate where others have failed through our passion for customers built on relationship and not a transactional approach. We offer services that include wealth and asset management, business banking, trade finance and personal banking."

This achievement owes a great deal to the strong partnership that we have with our parent company, as evidenced by our joint support of the Access Bank Day at Ham Polo Club.

"Building long term and mutually beneficial relationships with our customers has been key to our development and is an approach we will continue with the aim of creating the most profitable African bank in the UK, and greatly expanding our contribution to Group performance."

Notes to editors:

About Access Bank

Access Bank Plc is a full service commercial Bank operating through a network of 348 branches and service outlets located in major centres across Nigeria, Sub Saharan Africa and the United Kingdom. Listed on the Nigerian Stock Exchange in 1998, the Bank serves its various markets through 5 business segments: Institutional, Commercial, Retail Banking, Transaction Services and Financial Markets.

The Bank has over 800,000 shareholders including several Nigerian and International Institutional Investors and has enjoyed what is arguably Africa's most successful banking growth trajectory in the last ten years, ranking amongst Africa's top 15 banks by total assets and capital in 2012.

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.

About The Access Bank UK Ltd

The Access Bank UK Limited is a wholly owned subsidiary of Access Bank Plc, a bank incorporated in Nigeria. Access Bank Plc ranks among the top four banks in Nigeria by most metrics. It offers a broad range of banking products and services including:

- Private banking, through its specialist division Access Private Bank (see below) - Business banking - Trade finance - Personal banking




to business and personal customers, both from the UK and Sub-Saharan Africa. Its strong commercial ties to Africa and local knowledge are invaluable for customers with personal and business involvement in these regions.

The Bank was authorised by the Financial Services Authority on 12 August 2008. Following the reorganisation of the Regulatory Regime in the UK on 1 April 2013 with the introduction of Twin Peaks regulation, the Bank is currently regulated by the Prudential Regulation Authority and the Financial Conduct Authority. The Bank is authorised to undertake a wide range of banking activities.

The Access Bank UK's outstanding year on year growth is derived in part from its international sales and operations, and its geographical expansion within Sub Saharan Africa including trade finance transactions in Nigeria, Ghana, Zambia, Rwanda and Cote D'Ivoire. The transactions related to the import and export of goods such as oil products, paper, auto parts and numerous other commodities. This work, and its success, highlights the Bank's ability to provide an invaluable service proposition for customers wishing to maximise opportunities in the growing economies of Sub Saharan Africa and its ability to increase market share in Nigeria - the fastest growing economy on the continent.

To further broaden its international reach and ensure the outstanding growth remains self-sustaining, the Bank is undertaking a range of developments. These include

- developing closer working relationships with OECD exporters to increase exposure to trade flows across a broader range of African countries - focusing on taking advantage of the growing trade flows in Ghana plus adopting a growth strategy for the Rwandan and Zambian markets




These measures will mean the Bank avoids over-dependency on its substantial market share in Nigeria.

Acting as a confirming bank across OECD markets is a key part of The Access Bank's growing opportunities in trade finance for itself and its customers. Its confirmation is now accepted on over 95% of occasions.

It also:

- is a registered correspondent and trade finance bank for the Central Bank of Nigeria (CBN) - issues Letters of Credit on behalf of the Nigerian government and Nigerian National Petroleum Company (NNPC) - acts as a correspondent bank for Nigerian and Ghanaian banks lacking a UK-authorised subsidiary - is accredited by IFC (World Bank Commercial Arm).




Access Private Bank

Access Private Bank is a global private bank dedicated to helping high net worth individuals reach their wealth management and financial goals. The Bank provides an individual tailored investment solution that is complemented by a personal banking service, and is committed to working with its customers to build long-term relationships based on understanding, knowledge, trust and accountability. Its integrated global investment and wealth management service is based on the principles of discretionary investment management and a portfolio designed specifically for each client after discussion on personal circumstances, investment objectives, knowledge and attitude to risk.

The Bank fully manages customers' investment and reports the performance of portfolios on a regular basis to ensure customers are kept up to date with developments.

Photo: http://photos.prnewswire.com/prnh/20140614/692888

The Access Bank UK Limited

CONTACT: FOR FURTHER INFORMATION CONTACT: Jonquil Simons, Tel:

+44-(0)207-963-7422, mobile +44-(0)7860-466958, Email:

jonquil.simons@pielleconsulting.com; Peter Walker, Tel:

+44-(0)207-963-7424, mobile +44-(0)7836-223513, Email:

peter.walker@pielleconsulting.com


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Source: PR Newswire Europe