{"id":19667,"date":"2017-12-04T16:32:23","date_gmt":"2017-12-04T15:32:23","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=19667"},"modified":"2017-12-05T13:00:50","modified_gmt":"2017-12-05T12:00:50","slug":"access-bank-reals-5-year-strategy-expansion-plans","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/access-bank-reals-5-year-strategy-expansion-plans\/","title":{"rendered":"Access Bank Reals-Out 5-year Strategy Expansion Plans"},"content":{"rendered":"

\"\"<\/p>\n

\u2026 Targets 30m Clients<\/strong><\/p>\n

As part of its global expansion drive, Access Bank Plc on Monday launched a five-year strategy aimed at achieving a 30 million customer- base and to rank as number one bank in Nigeria in terms of returns on equity.<\/p>\n

The bank said \u201cThe new five-year strategy will accelerate this growth story to position Access Bank as the number one Nigerian bank by 2022 and create a Universal Payments Gateway to dominate international trade and inter-African payments.\u201d<\/p>\n

Addressing Financial Analysts and Market Operators at the Nigerian Stock Exchange (NSE), Herbert Wigwe, Chief Executive Officer and Group Managing Director of Access Bank, further stated that five years ago Access Bank set an ambitious goal to attain top three positions in its chosen market. That has been achieved, he added. \u201cWe are a strong, diversified institution with a consolidated top tier position in our sector\u201d. He stressed.<\/p>\n

The Group Managing Director said it is the latest in a series of transformative strategies that have resulted in sustained growth.<\/p>\n

He disclosed that from 2013 to November 2017, Access Bank has increased its total assets by 18 percent and delivered shareholder returns of 90 percent. \u00a0According to him, the bank has also grown its customer base from 90,000 in 2002 to over eight million in 2017 and in the same period opened 351 new branches. The Chief Executive Officer disclosed that the new strategy has six strategic levers, which are Digitally led, Retail banking growth and consolidation in wholesale markets, Customer focused, Analytics driven, with robust risk management, Strong global collaboration in key gateway markets as well as the creation of a universal payments gateway.<\/p>\n

Wigwe explained that to deliver the transformation, Access Bank will adopt a new organisational structure, adding \u00a0\u00a0that the retail bank will have a customer segment focus, driven by digital and payments.<\/p>\n

He revealed that the corporate bank will build deep sector expertise and deploy global relationship managers.<\/p>\n

According to him, Access Bank\u2019s subsidiaries will be organised around strategic clusters, with strong collaboration between them to secure trade finance and correspondent banking. He revealed that the bank\u2019s transformation programme will be underpinned by robust risk management together with high levels of automation to enhance the compliance and risk functions and drive customer insights.<\/p>\n

Wigwe stated that internationally it will develop an integrated global franchise by strategically developing its presence in key African markets, enhancing collaboration in global financial gateways including London and New York, Asia and the Middle East, and strengthening its trade hubs in India, Dubai and China.<\/p>\n

He noted that a strengthened presence in key African markets, and the creation of Universal Payments Gateway combined with an integrated global franchise, ideally positions Access Bank to be Africa\u2019s Gateway to the World.<\/p>\n

\u201c<\/span>The bank has also grown its customer base from 90,000 in 2002 to over 8 million in 2017 and in the same period opened 351 new branches.<\/span><\/p>\n

\u00a0\u201dThe new 5-year strategy will accelerate this growth story to position Access Bank as the No. 1 Nigerian bank by 2022 and<\/span>create a Universal Payments Gateway to dominate international trade and inter-African payments.<\/span><\/p>\n

\u00a0\u201cThe new strategy has six strategic levers:<\/span><\/p>\n

*Digitally led<\/span><\/p>\n

*Retail banking growth and consolidation in wholesale markets<\/span><\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

*Customer focused<\/span><\/p>\n

*Analytics driven, with robust risk management<\/span><\/p>\n

*Strong global collaboration in key gateway markets<\/span><\/p>\n

*The creation of a universal payments gateway<\/span><\/p>\n

\u00a0\u201cTo deliver the transformation, Access Bank will adopt a new organisational structure. The retail bank will have a customer segment focus, driven by digital and payments. The corporate bank will build deep sector expertise and deploy global relationship managers. Access Bank\u2019s subsidiaries will be organised around strategic clusters, with strong collaboration between them to secure trade finance and correspondent banking. The bank\u2019s transformation programme will be underpinned by robust risk management together with high levels of automation to enhance the compliance and risk functions and drive customer insights.<\/span><\/p>\n

\u00a0\u201cIn next phase of its transformation programme, Access Bank will embark on a series of bold initiatives. At home, the goal is to be the No. 1 bank in Nigeria by growing the retail customer base, SME client base, and by dominating the top 100 Nigerian corporates. Internationally it will develop an integrated global franchise by strategically developing its presence in key African markets, enhancing collaboration in global financial gateways including London and New York, Asia and the Middle East, and strengthening its trade hubs in India, Dubai and China.<\/span><\/p>\n

\u00a0\u00a0\u201cA strengthened presence in key African markets, and the creation of Universal Payments Gateway combined with an integrated global franchise, ideally positions Access Bank to be Africa\u2019s Gateway to the World\u201d.<\/span><\/p>\n

\u00a0\u00a0<\/span>Launching the new five-year strategy, Herbert Wigwe, CEO and Group Managing Director, said:<\/span>\u201c<\/span><\/i><\/b>Five<\/a>\u00a0years ago we set the ambitious goal to attain top three positions in our chosen markets. Today, we are a strong, diversified institution with a consolidated top tier position in our sector.<\/span><\/i><\/p>\n

\u00a0\u201cWe are setting out a new and ambitious five-year strategy which will put Access Bank at the forefront of Africa\u2019s changing financial landscape by creating a Universal Payments Gateway to dominate international trade and inter-African payments.<\/span><\/i><\/p>\n

\u00a0\u201cOur strategy will mean that by 2022, millions of people will have access to banking services for the first time. Customers will make payments and transfers when and how they need to. Businesses will be able to trade in new markets and invest in new technology.<\/span><\/i><\/p>\n

\u00a0\u201cWe recognise that we have a vital role to play in growing Nigeria, our largest market. Our global footprint is also changing and growing. As a result of our strategy, we will be in the Africa corridor trade hubs and the global gateway markets\u00a0within five years<\/span><\/span>.<\/span><\/i><\/p>\n

\u00a0\u201cThis next phase of our transformation journey will deliver our most ambitious goal yet \u2013\u00a0 a bank that is digital, innovative and nimble. A bank underpinned by the highest standards of risk and compliance. A bank that serves Africa and the world.<\/span><\/i><\/p>\n

 <\/p>\n

Photo Caption:\u00a0Herbert Wigwe, Chief Executive Officer and Group Managing Director of Access Bank<\/strong><\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

\u2026 Targets 30m Clients As part of its global expansion drive, Access Bank Plc on Monday launched a five-year strategy aimed at achieving a 30 million customer- base and to rank as number one bank in Nigeria in terms of returns on equity. The bank said \u201cThe new five-year strategy will accelerate this growth story …<\/p>\n","protected":false},"author":6,"featured_media":19668,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[793],"coauthors":[2391],"class_list":["post-19667","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-access-bank"],"yoast_head":"\nAccess Bank Reals-Out 5-year Strategy Expansion Plans - National Wire<\/title>\n<meta name=\"description\" content=\"As part of its global expansion drive, Access Bank Plc on Monday launched a five-year strategy aimed at achieving a 30 million customer- base and to rank\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/access-bank-reals-5-year-strategy-expansion-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Access Bank Reals-Out 5-year Strategy Expansion Plans - 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