Table of Contents
Key Points
- Access Bank launches Malta subsidiary, expanding its global footprint and driving international trade finance.
- Expansion strengthens Africa-Europe trade ties, enhancing connectivity and cross-border business support.
- Access Bank’s growth includes over 700 branches, 60 million customers, and strategic acquisitions across key markets.
Access Bank, a key subsidiary of Access Holdings led by Nigerian banker Aigboje Aig-Imoukhuede, has expanded its global footprint with the launch of its first fully owned subsidiary in Malta, through its UK branch. This move marks a significant milestone in the bank's international expansion strategy.
Following the recent opening of its Hong Kong branch, Access Bank's decision to establish a presence in Malta signals its broader push into key global markets. This expansion aligns with Access Holdings' broader strategy to drive global trade, financial integration, and support businesses operating across continents.
Fostering stronger Africa-Europe economic ties
The subsidiary, licensed by both the European Central Bank and the Malta Financial Services Authority, will enhance trade connectivity between Europe and Africa.
Roosevelt Ogbonna, CEO of Access Bank Plc, said, “Our move into Malta reinforces our role as a bridge between European and North African economies, advancing our goal of becoming Africa’s Gateway to the World and enhancing support for cross-border trade and investment.”
Jamie Simmonds, CEO of The Access Bank UK, stated: "Europe has become Africa's top trading partner, supported by initiatives like the EU-Africa Economic Partnership Agreements and AfCFTA. The Access Bank Malta is well-placed to enhance trade and address clients' banking needs in these growing markets."
Renald Theuma, CEO of The Access Bank Malta Limited, highlighted Malta's strategic role as a bridge between Europe and Africa, calling it an ideal base to enhance customer engagement in Europe and foster growth across both continents.
Expanding in Africa and enhancing trade finance capabilities
Founded in 1988, Access Bank is the flagship banking subsidiary of Access Holdings, with an expansive network of over 700 branches and a customer base exceeding 60 million across 22 markets, including sub-Saharan Africa, the UK, and Dubai. Its workforce in Nigeria alone numbers nearly 30,000, with additional representative offices in China, Lebanon, and India.
The bank's leadership, under Aigboje Aig-Imoukhuede, has spearheaded aggressive expansion initiatives. Recent highlights include the regulatory green light for its $100 million acquisition of the National Bank of Kenya from KCB Group, further solidifying its presence in Africa.
The Malta subsidiary will focus on international trade finance, employing an initial team of 30 professionals with plans for measured growth. This development signals Access Bank’s commitment to driving financial integration, creating opportunities, and serving as a vital link between global markets.
