Access Bank Group

Access Bank Group is a financial services conglomerate, headquartered in Nigeria, with subsidiaries in the Democratic Republic of the Congo, Ghana, Kenya, Nigeria, Rwanda, Gambia, Sierra Leone, Zambia and the United Kingdom. The group also maintains representative offices in China, India, Lebanon and United Arab Emirates. As of June 2020, the group serviced in excess of 36 million customers in Africa.[1][2]

Access Bank Group
TypePrivate
IndustryFinancial services
Founded1989 (1989)
HeadquartersVictoria Island, Lagos
Lagos State, Nigeria
Key people
Herbert Wigwe
Group Managing Director & Group CEO
ProductsBanks, Mortgages Investments
Total assetsUS$18.82 billion+ (NGN:7.28 trillion) (Q1:2020)
Websitewww.accessbankplc.com

Location

The headquarters of Access Bank Group were previously located at Plot 999c, Danmole Street, Off Adeola Odeku/Idejo Street, Victoria Island, Lagos, Nigeria. In February 2020, the headquarters were relocated to Access Tower, 14/15, Prince Alaba Oniru Road, Oniru, Lagos, Nigeria.[3] The geographical coordinates of the banking groups headquarters are:06°26'00.0"N, 03°26'36.0"E (Latitude:6.433333; Longitude:3.443333).[4]

Overview

As of 31 March 2020, Access Bank Group was a large pan-African financial services organization with assets in excess of ₦7.28 trillion (US$18.82 billion).[5] As of August 2020, the group maintained operational subsidiaries in 8 sub-Saharan countries and one Western European county. The banking group also has representative offices in four Asian countries, two of which are in the Middle East.[1][2]

Acquisition of Diamond Bank

In 2018, Access Bank Nigeria, which accounts for approximately 75 percent of the groups assets, agreed to merge with Diamond Bank, another Nigerian commercial bank that was struggling to maintain regulatory capital ratios.[6][7] The transaction required regulatory and shareholder approval from both banks.[8] The merger was completed in March 2019. The combined bank retained the name Access Bank Nigeria.[9]

Member companies

The member companies of Access Bank Group include but are not limited to the following: 1. Access Bank Nigeria 2. Access Homes & Mortgages Limited 3. Access Investment & Securities 4. Access Bank Congo 5. Access Bank Sierra Leone 6. Access Bank Rwanda[2] 7. Access Bank Gambia 8. Access Bank Ghana Limited 9. Access Bank Kenya 10. Access Bank United Kingdom 11. Access Bank Zambia.[10]

See also

References
  1. James Anyanzwa (3 November 2019). "Nigeria's biggest lender enters EA market to grow African footprint". The EastAfrican. Nairobi. Retrieved 31 August 2020.
  2. Faith Ikade (3 June 2020). "Access Bank Becomes Major Shareholder In Its Rwanda Subsidiary". Lagos: Ventures Africa. Retrieved 31 August 2020.
  3. Abiola Odutola (15 February 2020). "Access Bank moves headquarters to Oniru, Lagos". Ikeja, Lagos, Nigeria: Nairametrics.com. Retrieved 31 August 2020.
  4. Google (31 August 2020). "Location of headquarters of Access Bank Group" (Map). Google Maps. Google. Retrieved 31 August 2020.
  5. Goddy Egene (13 May 2020). "Access Bank: Delivering Shareholders' Value". This Day Live. Lagos. Retrieved 31 August 2020.
  6. Zainab Babalola (22 January 2020). "Diamond and Access Bank Merger - Changing Financial Landscape in Nigeria". Ikoyi, Lagos, Nigeria: TNP Nigeria. Retrieved 31 August 2020.
  7. Reuters (19 December 2018). "Nigeria's Access Bank to buy rival Diamond Bank to create Africa's 'biggest bank'". Business Daily Africa. Nairobi. Retrieved 31 August 2020.
  8. Chijioke Ohuocha (5 March 2019). "Nigeria's Access Bank gets approval for Diamond Bank takeover". Reuters.com. Retrieved 31 August 2020.
  9. Aderemi Ojekunle (20 March 2019). "Access Bank, Diamond Bank successfully complete merger to create one of Africa's largest banks". Ikeja, Lagos, Nigeria: Pulse Nigeria. Retrieved 1 September 2020.
  10. Lusaka Times (7 August 2020). "Access Bank acquires Cavmont Bank Ltd". Lusaka Times. Retrieved 1 September 2020.
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