Issue link: https://maltatoday.uberflip.com/i/1530615
maltatoday | SUNDAY • 15 DECEMBER 2024 6 COMMERCIAL The Access Bank UK Limited expands its international the launch of Access Bank Malta to strengthen Europe-Africa THE Access Bank UK Lim- ited proudly announces the establishment of its first ful- ly owned subsidiary in Malta, The Access Bank Malta Lim- ited. The subsidiary's banking license application has been approved by both the Euro- pean Central Bank (ECB) and the Malta Financial Services Authority (MFSA), signalling a significant step in enhanc- ing trade connectivity between Europe and Africa. The approval of The Access Bank Malta Limited as a credit institution marks a transforma- tive milestone in bolstering Eu- rope-Africa trade flows. Malta, a renowned international fi- nancial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering eco- nomic partnerships. This strategic expansion in- to Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Afri- ca. It underscores the Access Group's commitment to driv- ing global trade, financial inte- gration, and supporting busi- nesses across these regions. Jamie Simmonds, Founding Chief Executive Officer and Managing Director of The Ac- cess Bank UK Limited, com- mented: "Europe has emerged as Africa's leading trading partner, driven by initiatives such as the Economic Partner- ship Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA). With Europe-Africa economic re- lations entering a new phase, The Access Bank Malta Lim- ited is ideally positioned to deepen trade and meet the fi- nancing and banking needs of our clients in these expanding markets." Roosevelt Ogbonna, Manag- ing Director and Chief Execu- tive Officer of Access Bank Plc, and CEO of the Banking Group added: "By establishing oper- ations in Malta, we will gain a foothold in a market that bridg- es European and North African economies, moving us one step closer to our goal of becoming Africa's Gateway to the World. It further enhances our Bank's capacity to support clients with innovative solutions tailored to cross-border trade and invest- ment opportunities." Renald Theuma, Managing Director and Chief Executive Officer of The Access Bank Malta Limited, emphasised the significance of this expansion: "Malta is uniquely positioned as a bridge between Europe and Africa, making it an ide- al location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents." The Access Bank Malta Lim- ited will focus on international trade finance, employing ap- proximately 30 people in its in- itial phase, with plans for con- trolled expansion over time. About Access Bank Plc Access Bank Plc, a wholly owned subsidiary of Access Holdings Plc ('The Access Corporation Plc'), is a leading commercial bank operating through a network of over 700 branches and service outlets across 3 continents and 49+ million customers. Access Bank Plc employs 28,000 people in its operations in Nigeria, Africa, the United Kingdom (with Branches in Dubai, Paris and Hong Kong), and the representative offices in China, Lebanon and India. Listed on the Nigerian Stock Exchange since 1998, Access Bank Plc is a diversified finan- cial institution which combines a strong retail customer fran- chise and digital platform with deep corporate banking exper- tise and proven risk manage- ment and capital management capabilities. The Bank serves its various markets through four business segments: Re- tail, Business, Commercial and Corporate. Access Bank Plc has over 900,000 shareholders (includ- ing several Nigerian and In- ternational Institutional In- vestors) and has enjoyed what is arguably Africa's most suc- cessful banking growth trajec- tory in the last twelve years. Following its merger with Di- amond Bank in March 2019, Access Bank Plc became one of Africa's largest retail banks by retail customer base. In honour of its defining roles across the African con- tinent, Access Bank Plc has been accorded recognition by reputable domestic and global organisations. Some of these recognitions include: 2023 Na- tional Quality Order of Merit Award "Most Innovative Bank- ing Sustainable Development Company of the Year"; 2023 Lagos Green Awards "Envi- ronmental Leadership in Busi- ness"; 2023 Global SME Bank- ing Innovation Awards, "Best