Access Holdings Reiterates Commitment To Shareholders Value, Set To Reward Long-Term Investors
Access Holdings Plc has said the company is in its consolidation phase to add value to shareholders’ investment. This, according to the company, is the reason the bank invested heavily in new markets, skills infrastructure, and technology over the last 10 years.
It further said that it will continue to focus on shareholders’ value, as it urged shareholders to participate actively in the bank’s ongoing N351.02 billion rights issue.
The Holding Company revealed this at its Facts Behind the Rights Issue Presentation held yesterday on the Nigerian Exchange.
Commenting on the need for shareholders to participate in the ongoing rights issue, the Chairman of Access Holdings Plc, Aigboje Aig-Imoukhuede said that the rights issue was essential to reward long-term investors who have supported the bank through difficult times, as the bank is poised to generate significant profits in future.
Imokhuede also stated that the additional capital will enable the holding company to maximise emerging opportunities and deliver long-term value to its shareholders, adding that the bank is committed to strengthening ties with shareholders and enhancing value creation.
Managing Director of Access Bank, Roosevelt Ogbonna said the bank’s presence in this sophisticated market has continued to position it strategically in the areas of facilitating and enhancing cross-border trade across the globe.
He said that Access Bank UK, a wholly owned subsidiary of Access Bank, is well-positioned to become one of the top 20 banks in the UK, with an annual profit target of approximately $1 billion.
According to him, its resolve to provide innovative financial solutions has played a vital role in supporting businesses and investors involved in international trade over the years.
His words, “All our earnings are in the UK dollarised. It means every time there is a devaluation, our UK business continues to grow, so we have created a natural hedge. Going forward, our consolidation with shareholders will be to show what we have built over the years. Our international business is competing with other foreign banks in capitalisation. The institution has indeed delivered in all its commitment from 2002.”
The Group Chairman, NGX Group, Umaru Kwairanga stated that Access Holdings in just two decades has transformed into the biggest financial services institution in Nigeria and one of the biggest in the African continent.