.myaccessbank, which has grown into Nigeria’s biggest lender by assets, is setting its sights even higher and is changing its corporate structure to fuel an expansion. Moneyweb AfricaNews
Access Bank Plc, which has grown into Nigeria’s biggest lender by assets, is setting its sights even higher and is changing its corporate structure to fuel an expansion. The lender transitioned to a financial holding company in Nigeria this month as it plans to offer more services beyond traditional banking, including payments, insurance and asset management, Chief Executive Officer Herbert Wigwe told reporters in Lagos.
as a model for offering a range of financial products across multiple divisions of a holding company. The expansion doesn’t come without risks, as Wigwe said investor scepticism may explain why the bank only ranks fourth in Nigeria by market value. The stock traded around 10 naira per share in Lagos on Wednesday to give the lender a valuation of about 355 billion naira . “Over time, it will show the right valuation that we expect,” Wigwe said.
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