The doors of Access Bank South Africa Limited were yesterday officially opened for business. The bank described the development as another step in engraving Access Bank Plc into the continent’s history.
The development comes following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited. The deal was finalized after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa.
At an official closing ceremony in Sandton, South Africa, top executives of the two banks were upbeat about new opportunities for clients, noting that the bank will continue to support all its stakeholders, while opening doors to growth opportunities both in the short and long term.
Noting the enthusiasm of all parties leading up to this day, Access Bank CEO, Herbert Wigwe said the SADC region represents the strongest economy on the African continent.
Wigwe highlighted Access Bank’s solid presence in Zambia too, saying the opening of the South African subsidiary cements the Bank’s commitment to sub Saharan Africa as a portal for exceptional banking opportunities across the continent.
Building on the organization’s vision of delivering a robust banking operation that connects key African markets, the CEO of Access Bank SA, Bennie van Rooy, described the development as, “an exciting event for the South African banking industry,” as well as the provision of sustainable support to existing customers while appealing to new clients with a business presence across Africa.
“This is an extremely exciting day for the South African banking industry. Our corporate customers will now have increased access to trade finance, treasury, international payments and loans through the wider distribution network offered by Access Bank’s presence in the key trade corridors that connect Africa to the rest of the world.
Continuing, Wigwe said the Group would continue to focus on building relationships, as a partner in both businesses and in communities it serves.
With its transactional account and online banking, commercial and asset finance, offshore investments and Forex requirements or deposit solutions, Access Bank puts the power of choice in clients’ hands.
Wigwe said the opening in South Africa meant Access Bank SA was now firmly seated in one of the principal geographical areas apart from Nigeria, in terms of the size of the economy.
Highlighting Access Bank’s presence in Zambia, he said the opening of the South African subsidiary cemented the bank’s commitment to sub-Saharan Africa as a portal for banking opportunities across the continent.
Access Bank SA chief executive Bennie van Rooy said yesterday was “an exciting event for the South African banking industry”, and the provision of sustainable support to existing customers while appealing to new clients with a business presence across Africa.
“As part of the robust Access Bank family, the South African operations look forward to contributing meaningfully to the achievements and ambitions of the group. In offering a full suite of financial service products to a market we understand in depth, Access Bank SA is delighted to grow the family footprint.”
Wigwe said the group’s focus was on building relationships, as a partner in businesses and in the communities it served. “It’s vital that our banking solutions give clients the advantage they need to grow sustainably, with access to smart solutions that help them reach greater goals.”
With its transactional account and online banking, commercial and asset finance, offshore investments and foreign exchange requirements or deposit solutions, Access Bank put the power of choice in clients’ hands, he said.
“We look forward to the opportunities that present themselves with opening doors for individuals and businesses, and growing possibilities as we go,” said Wigwe.
The Nigeria-listed Access Bank is a leading full-service commercial bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers.
It employs 28 000 people in its operations in Nigeria and has subsidiaries in sub-Saharan Africa and the UK, with a branch in Dubai, United Arab Emirates, and representative offices in China, Lebanon and India.
Following a merger with Diamond Bank in March 2019, Access Bank, with more than 900 000 shareholders, became one of Africa’s largest retail banks by retail customer base.
