How Access Bank Climbed the Ranks of Nigeria’s Banks
Founded in 1988, Access Bank has transformed from an obscure little known Nigerian Bank into a world class African financial institution. In March 2002, the Board of Directors appointed Aigboje Aig-Imoukhuede as Managing Director/Chief Executive Officer and Herbert Wigwe as Deputy Managing Director. The mandate was clear: Reposition the Bank as one of Nigeria’s leading financial institutions within a five year period. This task was perceived by many as impossible, given the realities of the Bank at the time. The new management team subsequently created a transformational agenda for Access Bank which represented a departure from all that characterized the bank in the past.
Today, Access Bank is one of the three largest banks in Nigeria in terms of assets, loans, deposits and branch network. This has been achieved through a strong long-term approach to client solutions, providing committed and innovative advice. It has built its strength and success in corporate banking, and is now applying that expertise to the personal and business banking platform acquired from Nigeria’s International Commercial bank in 2012. Following this milestone, the Bank has worked to integrate the business, invest in the infrastructure, and strengthen its product offering.
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant. One innovation of note, the “W” Initiative offered women exclusive access to banking services, as well as a wide range of lifestyle-oriented value added benefits and privileges. It also provides financial assistance for women who face health difficulties, including infertility and corrective surgeries. To date, they have helped 54 women ensure their wellbeing and happiness by providing assistance with fertility treatments and varied surgeries.
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