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Tag: Access Bank

  • Access Bank unveils USSD code

    Access Bank Plc has launched a special Unstructured Supplementary Service Data (USSD) code *901*11#, a strategic tool for the recently-launched Payday Loan product by the bank. The code is the lender’s means of providing quicker and instant access to loans for customers.

    Unveiled in partnership with Remita, Payday Loan requires no collateral or guarantor, enabling customers to obtain loans instantly without visiting the bank – thereby enabling customers to meet their urgent financial needs before receiving their salaries. In a statement released by the bank, the Executive Director, Personal Banking, Access Bank, Victor Etuokwu said, “Acquiring loans in Nigeria has always been known to be limiting – either due to access, collateral issues, including the duration of the approval process. With our obligations to our customers especially during difficult economic periods, we are emphasizing Access Bank’s position in offering lifestyle products and services that meets their financial needs.”

    Access Bank’s Payday Loan product offers customers and non-customers easy access to a unique platform that gives them access to loans against their next salary payment, and enables customers to obtain a loan instantly by simply dialing a USSD Code *901*11# on their mobile phones. The Payday loan can also be obtained to fulfill any financial and personal requirement to enhance their quality of life.

  • Malaria: GBC Health, John Hopkins University Awards Access Bank

    The GBCHealth’s Corporate Alliance on Malaria in Africa (CAMA) alongside the Private Sector Malaria Prevention Project (PSMP) at John Hopkins Center for Communication, UK Aid and the National Malaria Control Programme of the Ghana Health Services, have conferred the ‘Innovation Award’ on Access bank and other significant awards to four other organisations for their roles in combating malaria scourge on the continent.

    Access Bank won the Innovation in Malaria Financing award with its Malaria to Zero initiative that leverages innovative financing technology and media tools to accelerate the impact of malaria behavior change programs reaching 2 million Nigerians in grassroots and underserved communities across Nigeria.

    The other awarded organizations – ExxonMobil, Aliko Dangote Foundation, TANA Netting and Hippo Valley Estates Ltd. According to the organisers have taken significant steps to protect their employees and communities; and contribute to sustainable progress on national and global malaria eradication goals.

    The event which took place in Accra, Ghana on the 5th April, 2018 had the First Lady of the Republic of Ghana, Rebecca Akufo-Addo, in attendance as the Keynote speaker of the day and the award recognitions came into play at night providing an opportunity for corporate leaders to share best practices and explore opportunities for partnership.

    Reacting to the great honour bestowed upon Access Bank, the Head of Sustainability, Omobolanle Victor-Laniyan, noted, “the only way to end or at least reduce the prevalence of malaria is by organizing and strategically leveraging on the resources, capabilities and the proven expertise of private sector organizations. This is what Access Bank has been championing using the platform of Malaria to Zero,”

    “For more than a decade GBCHealth has been presenting awards to companies that exemplify a spirit of innovation and seek to address today’s most critical global health challenges. Each of these companies is demonstrating through action what true leadership looks like when it comes to serving their employees and communities,” Nancy Wildfeir-Field, president, GBCHealth said.

    In no order of preference, ExxonMobil malaria initiative won the award for the Champion in Sustainability Malaria Program for reaching more than 125 million Africans with their community malaria initiative, while, the Aliko Dangote Foundation won the Leading in Multi-sectorial Partnership award for promoting multi- sector partnerships to increase the impact of private sector support of malaria control and elimination.

    The Local Development and Empowerment award was won by TANA Netting for DawaPlus project that places labor intensive processes of LLIN production in African countries to maximize the developmental potential of donor funds by also creating local employment opportunities.

    Lastly, Hippo Valley Estates Limited won the award for Workplace and Workforce Engagement with its Wellness and Disease Management project that is built on prevention through an integrated public health approach to communicable diseases such as malaria, TB and HIV; maternal and child health management for employees and their dependents; and onsite clinical, diagnostic and radiology services.

  • Access Bank, PayAttitude, Unified Payments partner

    Access Bank Plc is partnering Pay Attitude and Unified Payments to leverage on  customers’ mobile phone numbers and handheld devices to  provide payment solution called ‘’PayAttitude Digital’’.

    PayAttitude digital is a smart and convenient mobile app that enables Access Bank account holders to use their phone numbers for transactions at Automated Teller Machines (ATMs), Web and Point of Sale (POS) terminals. It also allows the bank’s merchants/ customers to receive payments using their mobile phone numbers across different e-payment channels.

    Only the payee need be Access Bank’s account holder as it is a pioneer product meant to promote financial inclusion and take advantage of the over 140 million mobile phone users in the country.

    Group Managing Director/Chief Executive Officer, Access bank, Herbert Wigwe at the launch in Lagos said: ’’ This is a leading edge payment solution that will ensure Access bank customers enjoy unique and convenient banking services as customers can send and receive cash, initiate third party payments, pay physical and online merchants and so much more’’.

    With the launch of the app, the bank’s customers will enjoy other benefits including request for a payment/transfer, ATM withdrawal, POS payments and collection of membership dues, tithes and offerings.

    They can also send staff, friends and family to withdraw cash at the ATM and buy items at physical and online shops, approve or decline transactions anywhere they are while they also have access to cost effective and stress free agency banking and in this regard, individuals and businesses can now register themselves as agents and begin to pay cash and receive deposits using their personal devices anywhere.

    Managing Director, Unified Payments and founder of PayAttitude, Agada Apochi,  is happy to be the pioneer processor/switch and partner of PayAttitude and Access Bank to provide topnotch services as the company has always done.

    Country Manager, PayAttitude, Titilayo Olubiyi, remarked that with PayAttitude Digital, no visit to bank branch is required to be enabled as it is all self-service from customers’ device.

  • PaySend, Access Bank deepen FinTech

    Card-to-card payments disrupter, PaySend, has partnered Access Bank Nigeria to deepen financial technology (FinTech) space in Africa.

    PaySend’s rapidly expanding business now operates in more than 60 countries and hopes to boost its presence across Africa.

    Its Chief Executive Officer (CEO), Ronald Millar, said: “We are delighted to be expanding into Nigeria and to be working with Access Bank. To have reached over 60 countries in such a short time is excellent and we look forward to a long and fruitful partnership.

    “Nigeria is one of our first African partners and we definitely see great potential in the region.”

    Access Bank, which has over 368 branches and service outlets across Nigeria, sub-Saharan Africa, the United Kingdom (UK) and Dubai, strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant.

    Also commenting on the partnership, Access Bank Executive Director, Victor Etuokwu, said: “Accessibility is important in our business and we see this partnership as vital to connecting our customers to their increasingly globalised network, whether they are business contacts, friends or family.”

     

     

  • Nigeria capital market recovers, records 0.33% growth

    Trading on the Nigerian Stock Exchange (NSE) on Thursday closed on a positive note after dropping for six consecutive days, with the All-Share improving by 0.33 per cent.

    The index rose by 138.36 points or 0.33 per cent to close at 41,633.79, against 41,495.43 achieved on Wednesday.

    Also, the market capitalisation which opened at N14.844 trillion inched N196 billion to close at N15.040 trillion.

    Mobil Oil recorded the highest price gain to lead the gainers’ table, growing by N7.70 to close at N184 per share.

    GlaxosmithKline followed with a gain of N2.25 to close at N24.30, while Nigerian Breweries appreciated by N1.90 to close at N127.90 per share.

    PZ Industries inched 60k to close at N23, while Cadbury advanced by 60k to close at N13.25 per share.

    On the other hand, Access Bank topped the losers’ chart, shedding 65k to close at N11.10 per share.

    Dangote Sugar trailed with a loss of 30k to close at N20.50, while Africa Prudential Registrar depreciated by 20k to close at N4.12 per share.

    Honeywell Flour was down by 12k to close at N2.38, while C&I Leasing dropped by 10k to close at N1.90 per share.

    Similarly, the volume of shares traded rose by 10.92 per cent as investors bought and sold 542.35 million shares valued at N7.35 billion transacted in 5,039 deals.

    This was against the 488.97 million shares worth N5.64 billion traded in 5,524 deals on Wednesday.

    Access Bank of the banking sub-sector was the investors’ delight in volume terms, exchanging 126.01 million shares worth N1.39 billion.

    Zenith International Bank followed with an account of 67.27 million shares valued at N1.92 billion, while Guaranty Trust Bank traded 51.84 million shares worth N2.34 billion.

    FBN Holdings sold 32.82 million shares valued at N394.25 million, while United Bank for Africa traded 29.50 million shares worth N342.28 million.

    NAN

     

  • Access Bank declares N18.8b dividend

    The board of Access Bank Plc has recommended payment of N18.8 billion as cash dividend to shareholders for the 2017 business year. Shareholders will receive a final dividend of 40 kobo, in addition to interim dividend of 25 kobo, bringing the total dividend per share for 2017 to 65 kobo.

    Key extracts of the audited report and accounts of Access Bank Plc for the year ended December 31, 2017 released yesterday at the Nigerian Stock Exchange (NSE) showed that gross earnings grew by 20 per cent to N459.08 billion in 2017 as against N381.32 billion recorded in 2016.

    The top-line performance was boosted by a 29 per cent increase in interest income to N319.9 billion in 2017 as against N247.2 billion in 2016. Net interest income rose by 17 percent to N163.45 billion in 2017 compared with N139.148 billion in 2016. Non-interest income grew marginally by four per cent from N133.4 billion to N139.1 billion. With these, group’s operating income rose to N302.6 billion in 2017 as against N272.6 billion in 2016.

    The top-line performance underlined considerable expansion in the commercial bank’s core lending business. Loans and advances grew by 11 per cent to N2.06 trillion in 2017 as against N1.855 trillion in 2016. Total assets rose by 18 per cent from N3.48 trillion to N4.10 trillion. Group’s shareholders’ funds had grown by 13 per cent from N454.49 billion in 2016 to N515.45 billion in 2017.

    However, the bank’s bottom-line contracted as pre-tax profit dropped by 11 per cent from N90.34 billion in 2016 to N80.07 billion in 2017. After taxes, net profit declined from N71.44 billion to N61.99 billion. With these, earnings per share dropped simultaneously from N2.50 in 2016 to N2.18 in 2017.

    Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, Group Managing Director, Access Bank Plc, said the bank’s operating performance in 2017 was impacted by the residual effects of macro-economic conditions of 2016, noting that the bank’s fundamentals remain strong and the group remains poised for sustainable growth in the coming periods.

    According to him, despite the macro and regulatory headwinds, the bank’s underlying business remained strong as reflected in the gross earnings growth and its loan book.

    He noted that 2017 was pivotal for the bank as it concluded its 2013-2017 corporate strategic plan, which successful implementation was hinged on discipline, hard work, and an unwavering commitment to set objectives.

    “I am particularly excited about the next phase of the bank’s evolution centred on an integrated global franchise. The execution of the 2018-2022 strategy commences with focus on deepening our retail offerings, underpinned by strong digital and payment solutions. Throughout the next phase, we will continue to invest in technology as we establish a universal payments gateway with an ecosystem of local and international partnerships,” Wigwe said.

    Access Bank’s capital and liquidity levels of 22.5 per cent and 47.3 per cent respectfully remained robust, well above the required regulatory minimum, providing a strong buffer against the macro challenges and room to expand its business.

  • Access Bank takes credit card to students

    Determined to empower youths, Access Bank Plc has taken its Student Credit Card Scheme to the University of Lagos (UNILAG), where student-cardholders were told about the gains of taking credit to meet their financial needs on campus. COLLINS NWEZE reports.

    Access Bank Plc  has unveiled its Student Credit Card at the University of Lagos (UNILAG).

    The card, which was well received by the students, was designed to meet the  needs of students on campus.

    The bank enlightened the students on the gains of financial management.

    The lender said the credit card is loaded with N20,000 for each cardholder, and that it could be reloaded, when it is exhausted.

    The lender’s Executive Director, Personal Banking, Victor Etuokwu, said the future belongs to the youth. “We want to teach young people to be responsible borrowers. By giving them credit cards, we are teaching them how to plan their financial lives and spending,” he said.

    According to him, the card will enable the students show responsibility early in life.

    Also, Access Bank’s Product Manager, Student Credit Card, Jite Omo-Udoyo, said the lender does not want to see students go broke, hence the introduction of the credit card would enable them have ready cash to spend.

    “We do not want to see you go broke. We have developed a card where you can get N20,000 and spend it anytime and payback later. I know that some students may not have enough money during examination periods, and at such time, the credit card can be of great help,” he said.

    Omo-Udoyo said the money from the card can also be used to pay school fees, serve as allowances, and at the end of every month, the bank will provide the student with expenditure plan. He said once a student has paid back the money, another N20,000 will be reloaded into the card.

    On the requirement to enjoying the product, he said the student needed to open an account with the bank, and will be issued the credit card, and from that moment, the student will never run out of cash from the beginning to the end of the semester.

    Besides, the card can also be used on Point of Sale (PoS) machines to transact transactions abroad, and other major uses.

    Some of the students, who have already keyed into the scheme, gave testimonies of how it has helped them to meet their financial needs. Ada Precious said she had benefited from the card, and would recommend to the students because of its benefits.

    Another student, Ogene Esther said the card has also helped her to spend better and meet her financial needs on campus.

    Etuokwu explained that Access Bank introduced the credit card because of the trust it has for the students. He added: “We want to begin to teach young people about how to be responsible borrowers. How would that happen? Because of the amount of money, you have access to in that card, you will be more responsible in what you do and spend.

    “It also gives you the ability to plan your spending. As you know, in the country today, if you are a responsible borrower, you begin to create a credit history. When you leave school and you want to be an entrepreneur and you go to a bank, you show them your record and they will see that you have been a responsible borrower,” he added.

    Continuing, he said: “Then, that bank can give you enough money to start your business. So, this is to enable people begin to show responsibility early in life. Your banking record is very key and your credit record is very important. Banks have what is called a credit bureau and if your name enters the bureau as a bad borrower, you will be blacklisted. So, you need to be a good borrower.”

    “With this, we have provided a card and you can spend up to N20,000.00 Anytime you are broke, use your card, there would be money waiting for you there. As you payback whatever you have spent, you have your N20,000 available for you to spend. To get this card is very simple, just open an account with Access Bank, pay your school fees and just bring your identity card,” Omo-Udoyo added.

     

  • Access Bank unveils credit card for Unilag students

    Access Bank Plc yesterday unveiled credit card for the  University of Lagos (Unilag) students. The lender introduced credit card that is loaded with N20,000 to the students, with the fund reloaded, on exhaustion. The  product is meant toimprove credit access to the students.

    Speaking at the unveiling of the product at the Unilag branch of the bank, the lender’s Executive Director, Personal Banking, Victor Etuokwu, said the future belongs to the youths and that simply saying so, is not enough.He saidthere isneed to trust them with funds.

    “We want to teach young people to be responsible borrowers. By giving them credit cards, we are teaching them how to plan their financial lives and spending,” he said.

    According to him, the credit card will enable the students show responsibility early in life.

    Also speaking, Access Bank’s Product Manager, Student Credit Card, Jite Omo-Udoyo, said the lender does not want to see students go broke, hence the introduction of the credit card would enable them have ready cash to spend.

    “We do not want to see you go broke. We have developed a card where you can borrow N20,000 and spend it anytime and payback later. I know that some students may not have enough money during examination periods, and at such times, the credit card can be of great help,” he told the students.

    Omo-Udoyo said the money from the credit card can also be used to pay school fees, serve as allowances, and at the end of every month, the bank will provide the student with expenditure plan.

    He said that once a student has paid back the money, another N20,000 will be reloaded into the card.

    On the requirement to enjoying the product, he said the student needed to open an account with the bank, and will be issued the credit card, and from that moment, the student will never run out of cash from the beginning to the end of the semester.

    Besides, the card can also be used on Point of Sale (PoS) machines, to transact transactions abroad, and among other major uses.

    Some of the students, who have already keyed into the scheme gave testimonies of how it has helped them to meet their financial needs. Ada Precious said she has benefited from the credit card, and would recommend to to all the students because of it benefits. Another student, Ogene Esther said the Access Bank Student Credit Card has also helped her to spend better and meet her financial needs on campus.

  • Access Bank: inflation’ll contract to 15.02%

    Inflation rate (year-on-year) will contract to 15.02 per cent in February 2018 from 15.13 per cent recorded in January 2018, Economic Intelligence Group of Access Bank has shown in its latest forecast.

    The Group noted that National Bureau of Statistics (NBS) is scheduled to release the inflation figure for February 2018 on March 14, 2018, based on the Data Release Calendar available on the Bureau’s website.

    The Group, in an emailed report yesterday, said: “Our methodology adopts an autoregressive analysis of past prices, while it recognises all the assumptions used by the NBS in its computation of monthly composite consumer price index (CCPI).

    “Looking in more detail at the drivers, our analysis indicates that the continuing trend of slowing inflation rate in February reflects a drop in food prices and stability in the currency.

    “In February, prices of food and non-alcoholic beverages, the largest component in the consumption basket (with a weight of 51.8 per cent) fell slightly. Based on our survey, prices of food items notably Irish potatoes, tomatoes, and pepper ticked downwards in February.”

    It said February’s easing of price pressures also reflects stability in the core index which excludes farm products and energy prices, owing to ongoing consistent FX supply by the Central Bank of Nigeria (CBN) and the appreciation of the naira on the parallel market. The value of the Naira settled at N363/$ in the parallel market on February 28th compared to N364/$ a month earlier.

    The forecast also said February’s easing of price pressures also reflects stability in the core index which excludes farm products and energy prices, owing to ongoing consistent FX supply by the CBN and the appreciation of the naira on the parallel market. The value of the Naira settled at N363/$ in the parallel market on February 28th compared to N364/$ a month earlier.

    “While we believe the falling inflation rate will support looser monetary policy in the coming quarters, we nonetheless expect the CBN to adopt a relatively cautious stance when it comes to making rate cuts for fear of triggering any weakness in the local currency.

    “With no change in the benchmark rate anticipated, we expect the CBN to continue issuance of OMO (open market operation) and Stabilisation Securities with focus on curbing naira liquidity to manage USD demand.”

  • Access bank hires 51 first class graduates

    Fifty one first class graduating students of the Gombe State University (GSU) were at the weekend offered automatic employment by Access Bank Nigeria PLC.

    Managing Director/CEO Herbert Wigwe announced the offer during the institution’s 6th, 7th, 8th, and 9thcombined convocation on Saturday in Gombe.

    Wigwe was conferred with Honorary Doctorate Degree in Administration along with Dr, Christopher Kolade Former Nigerian High Commissioner to the United Kingdom (Doctor of Letters); Emir of Gombe Dr Abubakar Shehu who is also the University Chancellor, (Doctor of Administration) and Hajiya Amina Mohammed, Deputy Secretary General of the United Nations (Doctor of Administration.)

    A total of  3,958 graduated in various courses and post graduate programmes at the combined convocation ceremony.

    Wigwe, speaking on behalf of the recipients, commended the University for its remarkable achievements over the years.

    ”In spite the security challenges in the region, the institution never closed down for once, and the state government is able to put up remarkable infrastructure in the institution despite having little resources at its disposal and competing demands to deal with,” he said

    He congratulated the graduates for the academic feat they achieved and assured them of a great future if they persevered.

    “A journey of a thousand miles begin with a step, it may take some of you several years after graduating to settle,” he said.