Access Bank has received the approval of the Central Bank of Nigeria (CBN) to diversify and become a holding structure.
The bank announced its Approval-in-Principle from the CBN in a statement signed by its secretary, Sunday Ekwochi.
It would enable the bank to further accelerate its objectives around business diversification, improved operational efficiencies, talent retention, and robust governance.
The bank will also expand within Africa especially in Mozambique and South Africa. It has had a recent transaction with Cavmont Bank in Zambia.
The bank reaffirmed its readiness in asserting itself as a key driver in the African banking space, by ensuring a connected and broader Africa, as a strategic focus for geographic earnings, growth and diversification.
These transactions will remarkably boost the presence of the bank in the SADC region and Africa as a whole, and may result in broader customer base, broader market, and increased chances for profitability, liquidity, and continuity.
The GMD/CEO of Access Bank, Mr. Herbert Wigwe, said: “Today’s announcement demonstrates further commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the world, in line with our vision to be the world’s most respected African bank.”
