Access Bank (PLC)
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Access Bank Plc is a remarkable story of the transformation of a small obscure Nigerian Bank into an African financial institution of note; with emerging footprints on the international banking landscape. Access Bank today is one of the top 10 largest banks in Nigeria in terms of asset base. A phenomenal accomplishment considering its antecedents…
The Beginning (1988 – 2002)
December 19, 1988: Access Bank was issued a banking license
February 8, 1989: Access Bank incorporated as a privately owned commercial bank
May 11, 1989: Access Bank commenced operations at its Burma Road, Apapa Head Office.
March 24, 1998: Access Bank became a Public Limited Liability Company.
November 18, 1998: Access Bank listed on the Nigeria Stock Exchange.
February 5, 2001: Access Bank obtained a Universal Banking License from the Central Bank of Nigeria
The Board of Directors appointed Aigboje Aig-Imoukhuede as MD/CEO and Herbert Wigwe as Deputy Managing Director. The mandate was clear: “Reposition the bank to one of Nigeria’s leading financial institutions within a five - year period (March 2002 – March 2007)” This task was perceived by many as audacious, given the realities of the Bank at the time. Also appointed to the Board was Mr. Gbenga Oyebode who brought commendable board experience gathered from some of Nigeria’s leading companies, such as MTN Nigeria, Okomu Oil Palm Plc. The new management then articulated a transformation agenda for Access Bank Plc. This agenda represented a complete departure from all that characterized the bank in the past and became the road map for the transformation of the bank into a world class financial institution. The focus was to:
- Assemble a credible and high caliber management team
- Introduce a culture of excellence founded on professionalism and integrity
- Ensure Human Capital Development
- Enlarge Shareholder Base
- Introduce strong procedures and processes to drive day-to-day activities of the Bank
- Instill a passion for customers in all members of staff
- Establish a low cost liability generation strategy
- Expand branch network to cover all clearing zones within Nigeria
- Create a world class Brand Image
The impact of the transformation agenda was reflected in the first year. The bank grew its balance sheet by 100% and posted an impressive N1 billion profit before tax. The profit before tax figure was more than the cumulative profit made by the bank in the previous 12 years. This also marked the beginning of what would be a 6 year record triple digit growth trend. Similarly, earnings per share had rebounded to 21 kobo from a negative 2 kobo position, leading to a declaration of a 5 kobo dividend to shareholders for the first time in 3 years.
1. We offer a total value package, with customized services designed to suit your individual requirements; Savings Accounts, Current Accounts, Loans...
2. We provide funding solutions and corporate finance options, strategic advice, raise capital, help manage risk, and extend liquidity to help our clients achieve their goals.
3. We deliver best-in-class online solutions for both our corporate and private clients across our services with optimized security feature through our e-banking channels
Plot 999c, Danmole Street Off Adeola Odeku/Idejo Street Victoria Island, Lagos Nigeria.