Access Bank, one of Nigeria’s leading banks, has obtained regulatory approval to operate in France, marking its expansion into the French market. The move is part of Access Bank’s strategy to replicate its success in international trade finance from London to Paris. The bank aims to serve as a bridge for international companies looking to enter or expand their business in Africa. Access Bank has a presence in multiple African countries and plans to expand further, with a goal of becoming one of the top five largest institutions on the continent in the next five years.
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Zambia: Bank of Zambia clears Atlas Mara takeover by Access Bank
Access Bank, the Nigerian lender, has received regulatory approval to acquire African Banking Corporation Zambia Limited (Atlas Mara Zambia), which is expected to be completed in Q3 2023. Access Bank has been making a series of acquisitions across Africa to boost its bottom line and increase access to more liquidity and assets outside Nigeria, including Cavmont Bank Limited in Zambia and Grobank Limited in South Africa.
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Nigeria: Bank stocks drop amid monetary mayhem
Ten commercial banks in Nigeria, including First Bank, Zenith Bank, and Access Bank, lost a total of N87.4 billion in market value within a week of trading activities on the Nigerian Exchange amid difficulties faced by Nigerians in accessing cash and early closures of bank branches due to fear of attacks. First Bank experienced the largest loss of N23.3 billion, followed by Zenith Bank with N18.8 billion wiped off the value of the bank.
Categories: Banks -
Nigeria: Access Bank launches new five-year plan
Access Holdings has unveiled a five-year plan to expand Nigeria’s biggest lender, Access Bank, into other markets including France, Hong Kong, Malta, Dubai, Lebanon, China, and Mumbai by 2027. The bank plans to expand its retail banking business into a digital sales and service provider by 2027, and is targeting to increase its customer base by an additional 125 million by 2027, with 100 million of those customers being retail clients.
Categories: Banks