By Joy Baba-Yesufu
Access Bank Plc has announced plans to raise up to N194 billion through its Series 3 & 4 Commercial Papers (CPs) issuance under its N400 billion Commercial Paper Programme.
The issuance, which opened on March 20, will close on March 25, with allotment and settlement scheduled for March 26 and March 27, respectively.
As a wholly owned subsidiary of Access Holdings Plc, Access Bank operates as a full-service commercial bank with a network of over 700 branches and service outlets across three continents and 24 countries, serving more than 60 million customers.
The bank’s workforce of 28,000 professionals spans across Africa, the United Kingdom, and Europe, with strategic expansions into Malta, France, Mauritius, and Hong Kong, as well as representative offices in China, India, and the UAE.
Access Bank holds an Aa rating from Agusto & Co. and an AA rating from Global Credit Rating (GCR), reflecting its solid capital base, asset quality, profitability, and stable management team.
The bank has maintained one of Africa’s most impressive growth trajectories over the last two decades, positioning itself as one of the largest retail banks on the continent.
As of Q3 2024, Access Bank reported:
Total assets: N40.6 trillion
Loans and advances to customers: N11.9 trillion
Customer deposits: N22.3 trillion
Shareholders’ funds: N3.5 trillion
Capital adequacy ratio: 20.42%
Gross earnings: N3.4 trillion
Return on equity (ROE): 22.1%
Additionally, Access Bank is the first Nigerian bank to meet the CBN’s N500 billion minimum capital requirement for banks with international authorization, surpassing the regulatory threshold by N100 billion, well ahead of the 2026 deadline.
This latest N194 billion commercial paper issuance further strengthens Access Bank’s position as a leading financial powerhouse, reinforcing its growth strategy, liquidity position, and market leadership in Africa.
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