Access Bank Plc, via Access Bank UK, its UK subsidiary, has been granted permission to start official banking operations in Hong Kong.
The Times reported that Mr. Herbert Wigwe, the chairman of Access Bank UK and chief executive of Access Holdings Plc, hailed the accomplishment as evidence of the business’s tenacity.
Additionally, Mr Wigwe described the Asian country’s banking license as a “monumental achievement in our journey towards global prominence.”
The Hong Kong Monetary Authority granted the Nigerian lender permission to provide banking services in the country. It plans to start up in 2024.
The bank stated that this is a critical step towards achieving its five-year strategic plan and a testament to its global capabilities and strategic alliances. The bank plans to start operations in Hong Kong next year.
“Access UK’s approval to start official banking operations in Hong Kong is a huge step forward in our quest for international recognition, and I am incredibly proud of this accomplishment.
“This license is evidence of our steadfast dedication, tactical insight, and fortitude over the previous ten years. We at Access Group are enthusiastic about the opportunities that lie ahead.
“Our goal is to be the most reputable African bank in the world, and Hong Kong is a key component of that strategy. We are prepared to introduce cutting-edge, client-focused financial solutions to the Asian market.”
He continued, “We are excited about the prospects and difficulties that accompany growing our presence in this vibrant global market.”
According to Access Bank, its presence in the Hong Kong market has enormous strategic potential for increasing cross-continental trade because the country, known for its status as a global financial hub, serves as a critical gateway connecting Asia with the rest of the world.
Because of its strategic positioning in this advanced market, Access Bank is able to facilitate and improve cross-border trade between Africa and Asia.
According to a statement from the bank, Access Bank will be essential in helping investors and companies engaged in global trade because of its dedication to offering cutting-edge financial solutions.
