Tag: Access Bank
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Access Bank’s First Post-Merger H1 PBT Hits N74.1bn, Declares 25k Interim Dividend
Access Bank Group’s audited H1 results released to the Nigerian Stock Exchange (NSE) on Thursday showed Gross Earnings of N324.4 billion, up 28% from N253.0 billion in the corresponding period of 2018. The growth in gross earnings was driven by 46% increase in interest income on the back of continued growth in the Bank’s core…
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Access Bank partners Lagos State Government to launch N10billion loan portfolio for women
Africa’s largest retail bank, Access Bank Plc., yesterday collaborated with the Lagos State Employment Trust Fund (LSETF) to launch the LSETF W Initiative aimed at economically empowering women in Lagos State. The initiative, which has a total loan portfolio of N10billion, is targeted at women-owned businesses (with at least 50% ownership share) in operation for…
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Access Bank speaks on 'acquisition' of Union Bank
Earlier on Monday, July 8, 2019, there were reports on social media that Access Bank Plc was making moves to acquire Union Bank of Nigeria Plc. This was coming three months after Access Bank completed its merger with Diamond Bank, which also first started as a rumour in late 2018, but was refuted by the…
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Court okays Access Bank’s takeover of Don Etiebet’s property over N2.4bn debt
The Federal High Court in Lagos on Monday refused to grant an application by a former Petroleum Minister, Chief Don Etiebet’s company, seeking to stop Access Bank Plc from taking over his property known as Etiebet’s Place on Mobolaji Bank Anthony Way, Ikeja, Lagos, Southwest Nigeria. Justice Mohammed Liman in his ruling on the application,…
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Court seals Access, Diamond Banks merger
The Federal High Court (FHC) has sanctioned the approved scheme of merger between Access Bank Plc and Diamond Bank Plc, the final seal that effectively brings the merger of the two commercial banks into effect. Consequently, the Nigerian Stock Exchange (NSE) yesterday suspended trading on the shares of Diamond Bank Plc, which will be dissolved…
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Our N95bn Green Bond fully subscribed – Access Bank
Access Bank Plc. said on Monday that a five-year Fixed Rate Senior Unsecured N15 billion Green Bond, the first climate bond to be issued in Africa, had been fully subscribed. The bank’s Group Managing Director, Mr Herbert Wigwe, stated this at the bond-signing ceremony in Lagos. Green bond is a bond specifically earmarked to be…
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CBN, SEC formally approve Access, Diamond merger
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the merger of Access Bank Plc and Diamond Bank Plc, the last major regulatory hurdle for the consummation of the business combination. Both banks at the weekend confirmed receipt of the final approval from the financial services authorities. The final…
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FY18: Access Bank declares 25 Kobo dividend after N95bn profit
The board of Access Bank Plc has released the financial statements of the company for the year ended December 31, 2018. The results, announced on Friday, showed improvements in both the topline and bottomline when compared with what were recorded in the previous financial year ended December 31, 2017. For example, the gross earnings of…
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Alleged fraud: Access Bank explains officials’ role in sale of customer’s goods
Access Bank Plc has officially reacted to reports making the rounds in the media that its Managing Director/Chief Executive Officer, Herbert Wigwe and other top officials of the bank were slammed with a N2.5 billion suit bordering on stealing and others. The 21-count charges were filed by the Lagos section of the Special Fraud Unit…
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Access Bank board approves 2018 financial results
The board of Access Bank Plc has approved the financial results of the company for the period ended December 31, 2018. The financial scorecard of the firm was approved by the board on Monday, January 28, 2019 at a meeting in Lagos. This was after the highest decision making organ of the lender received the…