LONDON, July 17, 2017 /PRNewswire/ --
Relationships and in-house expertise drives UK subsidiary balance sheet growth to in excess of £1bn
As The Access Bank UK prepares to host the culmination of the 10th Annual Access Bank /UNICEF Charity Shield Polo tournament at the Guards Polo Club Windsor on Saturday 15 July it can reflect on a year where balance sheet growth has exceeded 81 per cent to reach in excess of £1bn.
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For The Access Bank UK Limited Chief Executive Officer and Managing Director Jamie Simmonds a review of the success of the Bank is a reflection of the importance we place on our relationship banking model. We invest significantly in attracting, retaining and training professional staff in order to ensure customers always deal with an expert who is familiar with their business."
"In the last year operating income grew by 27% from £19.7m to £25.0m, profit before tax by 45% from £8.6m to £12.5m with an 81% growth in assets to £1,115.1m at the end of 2016. The award, for the second year running, as best Africa Trade Finance Bank from CFI-Co (Capital Finance International)following voting from CFI readers, subscribers and contributors including the World Bank is particularly gratifying."
"Our achievements owe a great deal to the strong partnership that we have with our parent company, as evidenced by our joint support of this 10th anniversary of the Access Bank Group/UNICEF Charity Shield at the Guards Polo Club in Windsor."
The annual event is the climax to the high-profile Access Bank/UNICEF Charity Shield Polo tournament, and celebrates 10 years of reaching out to and highlighting the plight of vulnerable children and orphans and internationally displaced persons.
In partnership with 5th Chukker and based in Kaduna, Nigeria, it is the biggest charity polo tournament in Africa and stimulates support for the work of the UNICEF / Access Bank initiative across Africa.
Since the UNICEF/Access Bank initiative was started it has rebuilt schools in Kaduna and, kept more than 8000 students in continuous education. At the same time new school blocks and a computer literacy building all in a more secure and friendly school environment have been developed. The communities surrounding the schools are being supported with bore-holes for water, and sewing and grinding machines to secure employment and stimulate economic and social development.
Access Bank PLC Group Managing Director and Chairman of The Access Bank UK Ltd, Herbert Wigwe paid tribute to the UK operation by saying:
"The Access Bank UK has become the business we always envisaged it would. Founded on a model of excellent service and moderate risk appetite it has grown income, increased profit and delivers a healthy return on equity. Importantly it is adding value to Access Bank Group and enhancing the Group's stature on the international stage."
Wigwe also explained the reasons behind the Bank's continued support for the Fifth Chukker UNICEF initiative. "We are conscious of our role as a change agent in Nigeria and Africa that can help institute socio-economic development through responsible business practice and environmental considerations," he said. "In addition, we are continually seeking ways through which more resources can be pooled towards supporting the children. We are part of the community and as such should support its wellbeing."
Notes to editors:
Please attribute photographs to © Tony Ramirez/http://www.imagesofpolo.com