AccessBank Nigeria

Debt : January 2019

Access Bank Plc is the fourth largest bank In Nigeria listed on the Stock Exchange since 1998 and is 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

€ 15,024,304.02

Type of investment

Debt

Development impacts

Local economic growth
Gender

Beneficiary locations

Sub-Saharan Africa: Nigeria

Investment field

Financial Institutions

Activity

Commercial bank

Organisation

AccessBank Nigeria

Website

https://www.accessbankplc.com/

Domicile

Nigeria

More investments in

AccessBank Nigeria

Debt € 2,232,000.00 (2006-2014)

AB is a full-service commercial bank operating through a network of 381 branches and service outlets across Nigeria. Apart from the Nigerian operations, which constitute 75% of total assets, the bank has seven subsidiaries: one in the United Kingdom and the others in Africa.

Development impacts

Local economic growth
As the entity is among the largest bank in Nigeria they are the most efficient channel to support economic growth. BIO’s funds, jointly with the other participants to the syndication make up to a USD 250 million. The amount is sizeable and reputable entities backing the company demonstrates the trust in Access Bank, signalling the market positively.
Gender
Access Bank is committed to expand their portfolio for one part of the of the syndicated amount to support women entrepreneurs. AB entered the gender finance market with IFC in 2006. Currently, women represent 1/3rd of all customers of the bank. FMO provided Access Bank with a credit line of USD 30 million for on-lending to female entrepreneurs in 2015. Since then, AB has built up a portfolio of USD 46 million to finance female entrepreneurs and this has become an important element of the strategy in the Personal and Business Banking units, encompassing (i) young professionals; (ii) business and (iii) family customer segments. They have a well-structured framework for this. One team with skilled and highly motivated individuals is dedicated to the development of this segment.