THE ACCESS BANK UK LIMITED - delivering more than international business growth

USA - English

USA - Français

News provided by

Jul 22, 2024, 03:16 ET

Operating income - up 58 per cent - $207.6m
Pre-tax profits - up 158 per cent - $151.5m
Trade Finance income - up 69 per cent - $106.1m
Asset Management income - up 28 per cent - $10.4m
Commercial Banking customer deposits - $1.451bn - up 16 per cent
-innovative financial solutions from dynamic customer relationships -

LONDON, July 22, 2024 /PRNewswire/ -- As it prepares to host its' annual Access Bank Polo Day at Guards Polo Club Windsor on Saturday 20 July The Access Bank UK Limited has posted annual results that demonstrate another year of outstanding international growth. It was notable for the rapid progress the Bank made in carrying out its mandate to expand Access Bank's international operations in Europe – London, France, Malta and Asia – Hong Kong as well as Dubai. Subject to the necessary approvals from the relevant financial and regulatory authorities, the Bank hopes to make further announcements on its international expansion.

Global Polo Stars line up at the Access Bank Challenge Cup -2024. Funding for 120 classrooms pledged at Guards Polo Club – Windsor. Left to right: Dr Cyprian Terseer Heen - Acting Nigeria High Commissioner to the UK; Jamie Simmons – Chief Executive Access Bank UK; fifth from left Mr Paul Usoro – Chairman Access Bank; Ms Bolaji Agbede- acting Chief Executive Access Corporation centre - Adamu Atta – Chairman 5th Chukker Polo Club Kaduna; Tochi Wigwe – daughter of the late Herbert Wigwe: Mr Aigboje Aig-Imoukhuede – Chairman Access Corporation; Roosevelt Ogbonna – Chief Executive Access Bank. Celebrating success at the Access Bank UK annual Challenge Cup Day at Guards Polo Club Windsor. The UK bank posted results showing another year of outstanding international business growth. Operating income up 58 per cent to $207.6m pre-tax profits up 158 per cent to $151.5m and new branches in France, Malta and Hong Kong continuing its international expansion. The annual event is the climax to the high-profile Access Bank/Fifth Chukker - UNICEF Charity Shield Polo tournament. This year some $300m was pledged– funding to build another 120 school classrooms in Kaduna Northern Nigeria. It will bring the total numbers of pupils in continuous education at the school to 20, 000. For the last 14 years this Access Bank – 5th Chukker initiative with UNICEF has reached out to and highlights the plight of vulnerable children and orphans and internally displaced persons. The tournament is the biggest charity polo tournament in Africa and generates funds and stimulates support for the work of the UNICEF/Access Bank initiative across Africa. For further information: Peter Walker +447836223513

Corporate Responsibility and exemplary Corporate Governance play a key role in the growth of the Bank. The Polo day is the culmination of a year long programme, part of its fund raising in partnership with UNICEF for education projects in northern Nigeria in particular. Since the UNICEF/Access Bank initiative was started it has rebuilt schools in Kaduna and, kept more than 8000 students in continuous education. At the same time new solar powered school blocks and a computer literacy building all in a more secure and friendly school environment have been developed. The communities surrounding the schools are being supported with bore-holes for water, and sewing and grinding machines to secure employment and stimulate economic and social development. At the 2023 Access Polo Challenge over a million dollars was raised to support the Access- UNICEF programme.

According to Chief Executive Officer and Managing Director of The Access Bank UK Limited Jamie Simmonds, "We are a Bank where our growth is fuelled by the strength of customer relationships. It enables us to develop innovative products and financial solutions with, rather than just for, our customers. We invest significantly in attracting, retaining and developing professional staff in order to ensure customers always deal with an expert who is familiar with their business and personal financial needs, it is a modern interpretation of relationship management. External accolades are a valuable endorsement of our commitment to be the world's most respected African Bank. We are proud that investors in people have re-accredited us Platinum status and winning the 'Best African Trade Finance Bank ' from International Finance and Best 'Africa Trade Finance Bank' from Capital Finance International CFI for the sixth and the eighth consecutive year."

The Access Bank UK Limited was established, and is regulated in the in the UK, in 2008 to provide Trade Finance, Asset Management and Commercial Banking services for Access Bank Group's dealings in OECD markets. The Access Bank UK Limited's achievements owe a great deal to the strong partnership that it has with its' parent company and its joint support of the Access Bank Group Polo day.

The annual event celebrates reaching out to and highlighting the plight of vulnerable children and orphans and internationally displaced persons. In partnership with 5^th Chukker and based in Kaduna, Nigeria. The tournament is the biggest charity polo tournament in Africa and generates funds and stimulates support for the work of the UNICEF/Access Bank initiative across Africa.

At the launch of the recent rights issue in Lagos, Roosevelt Ogbonna Managing Director and Chief Executive Officer of Access Bank PLC commented, "The Access Bank UK Limited is well positioned to become one of the top 20 banks in the UK. The rights issue is designed to strengthen the Group's financial footing and support on going working capital needs including organic growth funding for its banking and non banking subsidiaries. Putting these funds to use we aim to catalyse growth across several sectors, stimulate business development, create jobs and deepen financial inclusion, supporting SMEs particularly underserved segments such as women and young entrepreneurs. All part of our mission, as is our UNICEF partnership to drive progress and development throughout the continent and beyond."

Photo: https://mma.prnewswire.com/media/2465751/Access_Bank_Challenge_Cup.jpg

SOURCE The Access Bank UK Ltd