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.
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 5th 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."
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SOURCE The Access Bank UK Ltd