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Access Bank opens Representative Office in China

By The Citizen
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Access Bank Plc has opened a representative office in China, the bank disclosed in a statement yesterday.

The lender also stated that the move was part of its efforts towards becoming the world's most respected African bank.

It said the development affirmed its commitment to socio-economic development of the continent through expansion across the world and its resolve to redefine the financial services operations.

The Bank's Group Managing Director, Herbert Wigwe, explained that the opening of the representative office was the beginning of Access Bank's entry into the Chinese market, saying the financial institution seeks to stimulate economic growth of the country by partnering with Chinese and African entrepreneurs.

He said: 'Access Bank is using this as a platform to grow its business in one of the world's fastest growing economies, as well as fostering economic and trade ties between China and Africa by becoming the link between businesses in both continents thereby driving economic development and business partnership.'

The decision to open a Chinese office, he added, was necessitated as the country has become Nigeria/Africa's major trading partner with several Chinese companies seeking to do business in Nigeria and several countries in Africa where Access Bank has its presence.

'This will signal a new era in the annals of financial service delivery as Access Bank Group will deliver world class financial services by leveraging on the groups robust and time – tested technological platform, its prized expertise in trade finance to facilitate trade and its innovative products and excellent service delivery which has been acclaimed to be one of the best in the world,' the statement added.

Also speaking, the Executive Director, Commercial Banking Access Bank, Roosevelt Ogbonna explained that the  representative office would offer a one-stop shop for companies that want to enter the Nigerian market, adding that the bank would offer financial and advisory support for their businesses while the country's economy would be positively impacted through their improved capacity.

'Access Bank’s presence in China further accentuates its steady growth as an international financial services and an attainment of its goal of becoming the world's most respected African bank.

'Access Bank Plc secured the approval of the China Banking Regulatory Commission to commence business of its representative office in Beijing in 2014, having satisfied the official requirements prescribed by the CRBC,' it added.

Access Bank’s presence in China further accentuates its steady growth as an international financial services and an attainment of its goal of becoming the  world's most respected African bank.

Access Bank Plc secured the approval of the China Banking Regulatory Commission to commence business of its representative office in Beijing in 2014, having satisfied the official requirements prescribed by the CRBC.

'Access Bank (China) Office will join its other subsidiary in the UK, Ghana, Rwanda, Gambia, Zambia, D R Congo and Sierra Leone. The Bank is set to replicate its world class service culture by empowering citizens through its diverse products and services designed to improve their lifestyles,' it added.