AccessBank Nigeria
Access Bank Plc is the fourth largest bank In Nigeria and widely recognized to be one of the top-performing banks in the country in terms of financial performance as well as for its international reckoning.
Amount
€ 2,232,000.00
Type of investment
Debt
Development impacts
- Local economic growth
Beneficiary locations
Investment field
Financial Institutions
Activity
Commercial Bank
BIO first met Access Bank mid-2004 and decided not to pursue this investment because the Bank did not have at the time a specific SME focus. Access Bank contacted BIO again in November 2005 when the Bank started getting interested in developing a true retail and SME strategy.
This strategy is based on the following:
- A contract with ING Advisory services to develop the retail department. Some ING staff is on-site to structure this department and train their future replacement.
- Development of specific products targeted for the retail and SME clientele including leasing products, term loans, retail loans, mortgages, credit and deposit cards.
- A network adaptation and expansion to provide an adequate retail bank network.
Development impacts
-
Local economic growth
Access Bank is the fourth bank of Nigeria with a current USD 200 million portfolio in SMEs. This represents only 4% of the total portfolio but is higher than most peers. The funds of the syndication will be used to grow the SME portfolio as well as women loans, agri and green businesses.
View more of our investments in this region
Financial Institutions
BRAC International Finance
12,815,000.00
Liberia, Sierra Leone, Tanzania, Uganda
08/11/2024
Debt
