Monday, December 4,
2017 7.30PM / Proshare WebTV
One of Nigeria’s leading Banking groups,
Access Bank has set a target of 30ml customers in the next 5 years of its
transformational strategy, which is focused on attaining the position of the
market leader in Nigerian banking sector.
GMD of Access Bank Mr Herbert Wigwe in a
presentation today on the five year transformation strategy (2018-2022), said
Access Bank was repositioning to become the leader in trade/intra-Africa trade,
through the universal payment gateway.
According to Mr Wigwe, Nigeria
remained a critical market in Sub-Saharan Africa, even as the bank plans to
leverage its other operations in the continent.
The Access Bank boss listed the six key
elements, that will drive the transformation strategy which include; Global
collaboration, Customer-focus, Digital led banking, Retail and Wholesale
banking, Analytics-driven insight/ Robust risk management and Universal Payment
Speaking further Wigwe asserted that with
a current NPL ratio of 2.5% , CAR of 20.5% and Liquidity ratio of 46%, the bank
was in a healthy position in the financial market.
He stressed that the bank will give top
priority to the retail segment growth, which will be driven through digital
innovation and tech-driven platforms.
For the Digital-led bank approach, the
Access Bank GMD said simplicity, connectivity, automation, decisioning, IT and
organization as strategic themes for the bank.
In the step towards achieving the Number 1
bank profile in Nigeria, Wigwe outlined strategies namely; enhancing retail
offering across key market segments and increase focus on digital to support
the retail and payment business.
Access bank also plans in the 5-year
period to effectively utilize “Big Data” and “Analytics” to drive customer
insights, supporting customer acquisition and retention. In the area of global
collaboration, the focus will be on correspondent banking and intra-Africa
Giving further insight, the GMD said the
aspirations of the bank in its transformation strategy will be guided by
five pillars that will serve as the anchor of the bank’s service delivery,
which are “Adopting best practises and the highest professional Standards”,
Leading its banking global integration with technology and innovation”,
“Instituting robust governance, risk management and regulatory compliance”,
“Building and maintaining strong capital and liquidity” and “Attracting
exceptional, diversified and global talent”.
The CEO of the Nigeria stock exchange Mr
Oscar Onyema earlier in his opening remarks, commended Access Bank for coming
to the market, to provide relevant information to stakeholders.