About Us

Access Bank Plc is a leading Nigerian multinational commercial bank and a key player in driving sustainable economic growth. We are committed to delivering profitability while ensuring environmental responsibility and social relevance. Owned by Access Bank Group and licensed by the Central Bank of Nigeria, Access Bank operates with a focus on providing impactful financial solutions across various sectors.

Originally established as a corporate bank, Access Bank expanded its services to include personal and business banking in 2012. A pivotal moment in the bank’s history occurred on April 1, 2019, with its merger with Diamond Bank. This merger not only led to the unveiling of a new logo, representing a unified and stronger banking entity but also positioned Access Bank as Africa’s largest bank by customer base, with over 42 million customers.

By 2021, Access Bank employed more than 28,000 people and solidified its status as the largest bank in Nigeria by assets, continuing its mission of shaping the future of banking across the continent.

Mission Statement

“At Access Bank, our mission is to be the leading retail and commercial bank in Nigeria, providing innovative financial solutions that enhance our customers’ lifestyles and create value for our stakeholders.”

Vision Statement

“Our vision is to be a world-class bank that provides innovative financial services and solutions that make a meaningful difference in the lives of our customers, shareholders, and employees. We aim to be the first-choice bank for our customers, the preferred partner for our stakeholders, and the employer of choice for our employees.”

Access Bank Group

As of September 2021, in addition to Nigeria, Access Bank plc has subsidiaries in Mozambique, Zambia, Congo, Sierra Leone, Rwanda, Gambia, Ghana, Kenya, South Africa, and the United Kingdom. Access Bank Group also maintains representative offices in China, India, Lebanon, and the United Arab Emirates.

African Expansion

In early 2021, Access Bank revealed plans for further expansion into eight new African markets, aiming to capitalize on the African Continental Free Trade Agreement (AfCFTA) and strengthen its pan-African footprint. The targeted countries include Morocco, Algeria, Egypt, Côte d’Ivoire, Senegal, Angola, Namibia, and Ethiopia, which would increase the bank’s presence to 18 countries across the continent.

As part of its strategy, Access Bank intends to establish physical offices in select markets while in others, it plans to partner with local banks and leverage its advanced digital platforms to deliver seamless banking services. This expansion aligns with the bank’s vision of becoming Africa’s gateway to the world, facilitating cross-border trade and financial inclusion.

French and European Expansion

In July 2021, the French government expressed a strong interest in deepening its economic ties with Nigeria, including fostering relationships with key business leaders like Herbert Wigwe, Group Managing Director of Access Bank. As part of this effort, an agreement was signed, paving the way for Access Bank to establish operations in France. This strategic move aligns with the bank’s long-term vision to expand its footprint, initially across France and gradually throughout Europe.

The new Paris office will be overseen by Access Bank’s London branch, under the leadership of Jamie Simmonds. Initially, the French operations will focus on trade finance, with plans to potentially expand into investment and wealth management services, further reinforcing the bank’s role in facilitating cross-border business and financial growth.

Historical Background

Access Bank’s journey began in 1989 when it received its license from the Central Bank of Nigeria, followed by a listing on the Nigerian Stock Exchange in 1998. Key milestones in its growth include:

  • 2002: A new management team, led by Aigboje Aig-Imoukhuede and Herbert Wigwe, took over, initiating a period of rapid transformation.
  • 2005: Access Bank expanded through the merger with Marina Bank and Capital Bank (formerly Crédit Lyonnais Nigeria).
  • 2007: The bank established its first international subsidiary in Banjul, The Gambia, and pledged further growth in the region.
  • 2008: Access Bank’s expansion accelerated with acquisitions across Africa, including Omnifinance Bank (88% shares), Banque Privée du Congo (90% shares), and Bancor SA in Rwanda (75% shares). The bank also opened subsidiaries in Sierra Leone, Zambia, and the United Kingdom. It briefly expanded into Burundi via Finbank, which exited the group in 2014.
  • 2011: Access Bank entered into discussions to acquire Intercontinental Bank Plc, eventually acquiring a 75% majority interest. This acquisition restored Intercontinental Bank’s capital position, with a shareholders’ fund of N50 billion and a Capital Adequacy Ratio (CAR) of 24%, well above the 10% regulatory minimum.
  • 2012: Access Bank completed the full acquisition of Intercontinental Bank, growing its customer base to over 5.7 million, with 309 branches and more than 1,600 ATMs. Later that year, the London High Court ordered the former Managing Director of Intercontinental Bank, Erastus Akingbola, to repay over $1 billion to Access Bank.
  • 2018: In December, Access Bank announced the acquisition of Diamond Bank, with the merger finalized in the first half of 2019.
  • 2020: The bank further expanded its footprint, acquiring Kenya’s Transnational Bank, including 100% of its shares and 28 branches. Regulatory approval was also granted to establish Access Bank Mozambique, and the bank unveiled plans to enter South Africa as part of its transformation into a holding company.

Access Bank’s growth trajectory reflects its strategic vision of becoming a dominant player in Africa and beyond, continually expanding its influence and services across multiple regions.

Services offered

Retail Banking Services
  • Current Accounts: Personal and corporate current accounts with various options for transactions and account management.
  • Savings Accounts: Personal and youth savings accounts with attractive interest rates and benefits.
  • Fixed Deposits: Fixed deposit accounts with competitive interest rates for short-term and long-term savings.
  • Online Banking: 24/7 online banking services for account management, transactions, and bill payments.
  • Mobile Banking: Mobile banking app for mobile banking services, including account management, transactions, and bill payments.
  • Debit Cards: Debit cards for cash withdrawals, transactions, and online purchases.
  • Credit Cards: Credit cards for personal and business use, with rewards and benefits.
  • Loans: Personal and business loans for various purposes, such as mortgages, education, and working capital.
Corporate Banking Services
  • Corporate Current Accounts: Current accounts for businesses with various options for transactions and account management.
  • Corporate Savings Accounts: Savings accounts for businesses with attractive interest rates and benefits.
  • Corporate Loans: Business loans for various purposes, such as working capital, expansion, and equipment financing.
  • Trade Finance: Trade finance services, including letter of credit, bank guarantee, and documentary credit.
  • Cash Management Services: Cash management services, including cash concentration, cash sweep, and zero balance account.
  • Treasury Services: Treasury services, including foreign exchange trading, money market operations, and risk management.
  • Investment Banking: Investment banking services, including mergers and acquisitions, equity placement, and debt issuance.
Online Banking Services
  • Bill Payment: Online bill payment service for utility bills, school fees, and other regular payments.
  • Funds Transfer: Online funds transfer service for domestic and international transactions.
  • Account Management: Online account management service for account balances, transactions, and statements.
  • Mobile Banking Services: Mobile banking services for mobile banking app users.
Other Services
  • Insurance Services: Insurance services, including life insurance, general insurance, and health insurance.
  • Travel Services: Travel services, including travel insurance, visa assistance, and travel booking.
  • Investment Products: Investment products, including mutual funds, fixed income securities, and equities.
  • ATM Services: ATM services for cash withdrawals and deposits at Access Bank ATMs nationwide.
  • Point of Sale (POS) Services: POS services for merchants to accept card payments.
Digital Banking Services:
  • Access Bank Mobile App: Mobile banking app for mobile banking services.
  • Access Bank Online Platform: Online platform for online banking services.
  • USSD Banking: USSD banking service for mobile banking services using a USSD code.
Card Services:
  • Debit Cards: Debit cards for cash withdrawals and transactions.
  • Credit Cards: Credit cards for personal and business use with rewards and benefits.
  • Prepaid Cards: Prepaid cards for gift giving or personal use.
Business Solutions
  • Business Current: Accounts Business current accounts with various options for transactions and account management.
  • Business Loans: Business loans for various purposes, such as working capital, expansion, and equipment financing.
  • Trade Finance Solutions: Trade finance solutions, including letter of credit, bank guarantee, and documentary credit.
  • Please note that this list is not exhaustive and may be subject to change as Access Bank Nigeria continues to innovate and expand its services.

Access Bank Achievements

Access Bank has consistently demonstrated excellence in the banking industry, achieving numerous prestigious milestones in recent years:

  • “Best Bank in Nigeria” at the 2019 Global Banking & Finance Awards, highlighting its leadership in financial services and customer-focused solutions.
  • Recognized by the Central Bank of Nigeria as one of the top 10 banks in the country, reaffirming its strong market presence and financial stability.
  • Awarded an “A1” rating from Agusto & Co., a top credit rating agency, reflecting its robust risk management framework and sound financial health.
  • Named one of the “Best Banks in Africa” by The African Banker magazine, underscoring its growing influence and successful expansion across the continent.

Commitment to Innovation

Access Bank’s commitment to innovation and enhancing customer satisfaction has been a key driver of its success. The bank continues to invest heavily in cutting-edge technology, launching several digital solutions aimed at improving the overall customer experience and making banking more accessible:

  • AI-Powered Chatbots: Deployed to assist customers with real-time queries, providing instant support and improving service delivery.
  • Mobile Banking Apps: Offering customers the convenience of accessing their accounts, managing finances, and performing transactions from their smartphones, anytime and anywhere.
  • Biometric Authentication Systems: Implemented to enhance security, allowing customers to verify their identity through biometric data, ensuring a safer banking experience.
  • Online Loan and Financial Product Applications: Simplifying the process for customers to apply for loans and other financial products via digital platforms, reducing the need for physical visits to branches.

Summary

Access Bank is a leading financial institution in Nigeria, offering a comprehensive range of products and services to individuals, businesses, and government entities. Over the years, the bank has achieved significant milestones, solidifying its position as a top-tier player in the banking industry. Its relentless commitment to innovation, customer satisfaction, and digital transformation positions Access Bank to continue its upward trajectory, providing exceptional service through a strong network of branches, ATMs, and digital platforms. This strategic focus ensures the bank is well-prepared for future growth and success in both local and international markets.