Access Bank UK Expands Footprint with New Hong Kong Branch …Becomes First W’African Bank in Asian Country
Hong Kong – November 06, 2024: The Access Bank UK Limited is proud to announce the official opening of its Hong Kong branch (a restricted licence bank) today. This expansion represents a key milestone in the bank’s global growth strategy and underscores our commitment to serving clients in the Asia-Pacific region.
The
launch of the Hong Kong branch establishes The Access Bank UK Limited as the
first West African bank to enter the territory, a groundbreaking move to
facilitate and accelerate trade flows between Asia and Africa. As a leading international
financial centre and gateway to Asia, Hong Kong is ideally positioned to become
a strategic hub, strengthening trade and connectivity between the region and
Africa. Through our presence in Hong Kong, The Access Bank UK Limited will
capitalise on the expanding economic partnership between Asia and Africa,
supporting the increasing flow of trade between these regions.
Opening
this branch in Hong Kong is a pivotal step in our international expansion. As
the first West African bank to establish a presence here, it signifies a major
achievement. With the continued growth of our parent company across Africa, the
resilience of the Nigerian economy, and long-standing trade ties, Hong Kong
serves as the ideal gateway for trade between Asia and Africa.
Speaking
at the ceremony, Ambassador Oludare E.
Folowosele, Consul General of the Consulate General of The Federal Republic of
Nigeria, said, “I am delighted to celebrate today the opening of a
Restricted Licence Bank in Hong Kong in the name of The Access Bank UK Limited.
This is a huge milestone in the development of trade flows between Asia and
Africa as the first West African banking group to attain this status. This also
aligns perfectly well onto the Belt and Road initiatives between China and
Africa where we see growing potentials for business flows between the two
countries.”
Jamie
Simmonds, Founding Chief Executive Officer & Managing Director of The
Access Bank UK Limited, expressed his commitment for
this strategic initiative, saying, "In recent years, Asia has emerged as
Africa’s largest trading region driven by programs like the Belt and Road
Initiative. In 2023, China-Africa trade reached an all-time high of USD 282.1
billion, reflecting a 1.5% year-on-year growth. As Asia-Africa economic
relations enter a new phase, the timing of our Hong Kong branch launch is ideal
to meet the financing and banking needs of our clients in these expanding
markets."
Ernest
Law, Managing Director & Chief Executive of The Access Bank UK Limited -
Hong Kong Branch, commented, "We are delighted
to establish the Hong Kong branch as a key element of The Access Bank UK
Limited's ongoing growth and international expansion strategy. This new branch
will enable us to engage more closely with our clients in Hong Kong and
strengthen our capacity to provide tailored financial solutions across the
region."
The Access Bank UK Limited - Hong Kong Branch,
headed by Ernest Law, will focus on international trade finance and commercial
banking. The Hong Kong branch is expected to initially employ circa 25 people
however this will grow with controlled expansion over time.
About
Access Bank PLC
Access
Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading
full-service commercial bank operating through a network of more than 700
branches and service outlets spanning 3 continents, 23 countries and over 60
million customers. The Bank employs over 28,000 people in its operations in
Africa and Europe, with representative offices in China, Lebanon, India, and
the UAE.
Access
Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian
Stock Exchange since 1998. The Bank is a diversified financial institution
which combines a strong retail customer franchise and digital platform with
deep corporate banking expertise, proven risk management and capital management
capabilities. The Bank services its various markets through three key business
segments: Corporate and Investment Banking, Commercial Banking, and
Retail Banking. The Bank has enjoyed what is arguably Africa’s most
successful banking growth trajectory in the last 18 years, becoming one of the
continent’s largest retail banks.
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, helping customers to access more and achieve their
dreams.
About The Access Bank UK Limited
The Bank is authorised by the Prudential
Regulation Authority (PRA) and regulated by the Financial Conduct Authority
(FCA) and the Prudential Regulation Authority, which puts us in a strong
position to support opportunities in Organisation for Economic Co-operation of
Development (OECD) markets for parent and the Group’s customers.
We are parent’s OECD operational hub and support
the flow of investment into markets in Nigeria and Africa. We are also
authorised by the Dubai Financial Services Authority (DFSA) to run our Dubai
operation – located in the Dubai International Finance Centre (DIFC) – which
enables us to assist with trade and investment requirements between Africa and
the Middle East and North Africa (MENA) region. Our Paris Branch is regulated
by the French Prudential Supervision and Resolution Authority (ACPR).
The Bank is a wholly owned subsidiary of Access
Bank Plc (our parent), a company listed on the Nigerian Stock Exchange as
stated above. Our focus is on building long-term relationships, and working collaboratively
with our customers, to better understand their goals and develop strategies
that are specifically tailored to their needs. We provide our employees with
ongoing support and development opportunities, which reflects in their
dedication and professionalism. We are very proud that Investors in People
(IIP) have re-accredited us Platinum Status, reaffirming our commitment to
excellence in people management.
The Bank is led by a team of experienced people
dedicated to delivering superior financial solutions to businesses and
individuals. Our staff have worked in the African, MENA, European and other
international marketplaces, and offer a wealth of knowledge and in-depth
experience.
In common with parent, the Bank is committed to
developing a sustainable business model for the environment in which it
operates. This is apparent in our moderate appetite for risk, a passion for
customer service and a commitment to working in close partnership with our
customers to forge long-term relationships with them.
We play a key role in parent’s and Group’s
vision “to be the world’s most respected African bank”. As such, we refuse to
chase unsustainable yields as a route to growth, but instead focus on the
strength of our customer relationships to develop the business in a measured,
structured and sustainable way
About The Access Bank UK Limited Hong Kong
Branch
The Access Bank UK Limited, Hong Kong Branch
offers a broad range of products and services to assist with trade and
corporate needs in Africa and Asia. The Branch is situated in the Central
District of Hong Kong Island and is regulated by the Hong Kong Monetary
Authority (HKMA).
The Hong Kong team offers bespoke services
tailored to meet customers’ business requirements and the Relationship Managers
are dedicated to delivering excellent customer service and working closely with
customers to fully understand their business requirements. The Hong Kong team believe
in building long term relationships with customers so that they receive the
best possible service, we tailor our products to specific requirements and work
with customers to meet varied and evolving needs as their businesses grow.
The Hong Kong Branch seeks to differentiate
itself from other banks currently operating in Hong Kong through excellence in
customer service, with a focus on establishing strong relationships with all
our customers. The strong links that the Branch has with China, UK, Africa and
Europe ensure that we have an in-depth knowledge of the marketplace and are
able to assist customers with their transactions.
For more information: https://www.theaccessbankukltd.co.uk/the-access-bank-uk-limited-hong-kong-branch/
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