Annual Results and International Growth of The Access Bank UK Limited
The Access Bank UK Limited has reported impressive financial results for the year, with operating income up by 58 per cent to $207.6 million and pre-tax profits soaring by 158 per cent to $151.5 million. Trade Finance income also saw a significant increase of 69 per cent to $106.1 million, while Asset Management income rose by 28 per cent to $10.4 million. Additionally, Commercial Banking customer deposits reached $1.451 billion, marking a 16 per cent increase.
The bank’s success in expanding its international operations in Europe, including London, France, Malta, and Asia, particularly in Hong Kong and Dubai, has been a key driver of its growth. With plans for further international expansion pending regulatory approvals, The Access Bank UK Limited is poised for continued success on the global stage.
Corporate Responsibility and exemplary Corporate Governance have played a crucial role in the bank’s growth, with the annual Access Bank Polo Day serving as a highlight of its fundraising efforts in partnership with UNICEF for education projects in northern Nigeria. The bank’s commitment to supporting education initiatives has already made a significant impact, with over 8000 students kept in continuous education and new infrastructure developments in schools benefiting the surrounding communities.
According to Jamie Simmonds, the Chief Executive Officer and Managing Director of The Access Bank UK Limited, the bank’s growth is driven by strong customer relationships and a focus on developing innovative financial solutions in collaboration with customers. The bank’s dedication to professional staff development and customer-centric approach has earned it prestigious accolades, including Platinum status from Investors in People and recognition as the ‘Best African Trade Finance Bank’ by International Finance and Capital Finance International.
Established in 2008 to provide Trade Finance, Asset Management, and Commercial Banking services for Access Bank Group’s operations in OECD markets, The Access Bank UK Limited has achieved significant success through its partnership with its parent company and joint support of the Access Bank Group Polo Day. The annual event not only celebrates the bank’s achievements but also raises awareness and support for vulnerable children, orphans, and internally displaced persons in Africa.
With a strong focus on driving progress and development, The Access Bank UK Limited is well-positioned to become one of the top 20 banks in the UK. The recent rights issue launched in Lagos aims to strengthen the group’s financial position and support ongoing growth initiatives, including funding for banking and non-banking subsidiaries. The bank’s mission to stimulate business development, create jobs, and deepen financial inclusion aligns with its partnership with UNICEF to drive positive change across the continent and beyond.
