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Monday, December 04, 2017 / 8:50AM /Access Bank
Access Bank, the full service commercial bank
with headquarters in Nigeria and operations across Sub-Saharan Africa, the UK,
Asia and the Middle East, today announces its new five-year strategy with an
ambitious plan to become Africa’s Gateway to the World.
This is the latest in a series of transformative
strategies that have resulted in sustained growth. From 2013 to November 2017,
Access Bank has increased its total assets at a CAGR of 18% and delivered
shareholder returns of 90%. The bank has also grown its customer base from
90,000 in 2002 to over 8 million in 2017 and in the same period opened 351 new
branches.
The new 5-year strategy will accelerate this
growth story to position Access Bank as the No. 1 Nigerian bank by 2022 and
create a Universal Payments Gateway to dominate international trade and
inter-African payments.
Download
2018 – 2022 Access Bank Strategy Presentation Here
The new strategy has six strategic levers:
• Digitally led
• Retail banking growth
and consolidation in wholesale markets
• Customer focused
• Analytics driven, with
robust risk management
• Strong global
collaboration in key gateway markets
• The creation of a
universal payments gateway
To deliver the transformation, Access Bank will
adopt a new organisational structure. The retail bank will have a customer
segment focus, driven by digital and payments. The corporate bank will build
deep sector expertise and deploy global relationship managers. Access Bank’s
subsidiaries will be organised around strategic clusters, with strong
collaboration between them to secure trade finance and correspondent banking.
The bank’s transformation programme will be underpinned by robust risk
management together with high levels of automation to enhance the compliance
and risk functions and drive customer insights.
In next phase of its transformation programme,
Access Bank will embark on a series of bold initiatives. At home, the goal is
to be the No. 1 bank in Nigeria by growing the retail customer base, SME client
base, and by dominating the top 100 Nigerian corporates. Internationally it
will develop an integrated global franchise by strategically developing its
presence in key African markets, enhancing collaboration in global financial
gateways including London and New York, Asia and the Middle East, and
strengthening its trade hubs in India, Dubai and China.
A strengthened presence in key African markets,
and the creation of Universal Payments Gateway combined with an integrated
global franchise, ideally positions Access Bank to be Africa’s Gateway to the
World.
Launching the new five-year strategy, Herbert
Wigwe, CEO and Group Managing Director, said: “Five years ago we set the
ambitious goal to attain top three positions in our chosen market. Today, we
are a strong, diversified institution with a consolidated top tier position in
our sector.
We are setting out a new and ambitious five-year
strategy which will put Access Bank at the forefront of Africa’s changing
financial landscape by creating a Universal Payments Gateway to dominate
international trade and inter-African payments.
Our strategy will mean that by 2022, millions of
people will have access to banking services for the first time. Customers will
make payments and transfers when and how they need to. Businesses will be able
to trade in new markets and invest in new technology.
We recognize that we have a vital role to play
in growing Nigeria, our largest market. Our global footprint is also changing
and growing. As a result of our strategy, we will be in the Africa corridor
trade hubs and the global gateway markets within five years.
This next phase of our transformation journey
will deliver our most ambitious goal yet - a bank that is digital, innovative
and nimble. A bank underpinned by the highest standards of risk and compliance.
A bank that serves Africa and the world, our ambition is to become Africa’s
Gateway to the World.”
There will be a presentation to shareholders at
the Nigerian Stock Exchange today, 4th December at 10:30hrs (09:30hrs London;
11:30hrs South Africa). A live audio webcast and presentation slides will be
posted on the day of the event to http://www.accessbankplc.com
under Investor Relations, Events & Presentations. Dial-in information is
provided below:
Nigeria +234 1 903 0040
South Africa +27 11 535 3600
UK +44 808 162 4061
USA +1 855 481 5362
Participants should dial in at least five
minutes before the start of the presentation.
Download
2018 – 2022 Access Bank Strategy Presentation Here