Access Bank Plc, the flagship company of Access Holdings Plc, officially established its subsidiary in Paris, France, on Thursday.
According to Arise News, the bank released a statement on Thursday saying that the majority of its activities will be focused on trade finance, first taking advantage of flows between France and Africa, particularly Francophone Africa.
“Access Bank Plc currently has a very strong presence in the United Kingdom, but following Brexit, there was a need for us to establish a presence in another country in Europe, and France provides a very strong platform for us to do so,” said the group chief executive officer of Access Holdings Plc, Herbert Wigwe.
“The Paris branch of Access Bank will seek to boost trade opportunities and trade finance options for companies operating in those regions, including both large conglomerates and SMEs.”
It stated that while the corporate and investment banking services will assist firms in gaining access to capital, managing their cash flow, and reducing risk, they will also be useful tools for those seeking to conduct business worldwide.
“Access Bank’s coming to France signifies a significant step toward realizing its objective of linking possibilities and spanning worlds for African enterprises. The bank’s most recent step also serves as a benchmark for implementing its just-unveiled 5-year strategic growth strategy.
Managing director of Access Bank Plc, Roosevelt Ogbonna, stated at the launch: “Over the years, we have demonstrated a strong commitment to deepening the Bank’s presence across Africa and beyond.”
“Today, we are happy to serve millions of clients and businesses throughout 18 countries on four continents. In fact, our goal of being the most reputable African bank in the world has inspired our expansion drive. By building on our solid record of innovation, customer service, and social responsibility, we have come a step closer to achieving this goal.”
“Access Bank UK, directed by Jamie Simmonds, would oversee the operations of the Paris subsidiary and effectively serve as the umbrella business for other representative offices in the country.
“With the beginning of operations in France, Access Bank is in a unique position to foster scaled economic development and expansion throughout Africa while assisting foreign investors in realizing the potential of the continent as a market for their products and services,” the statement added.
