Thelma Osatohanmwen
In a major stride towards its five-year strategic plan, Access Bank UK, the wholly owned subsidiary of Access Bank PLC, has secured approval to commence operations in Hong Kong.
The approval, granted by the Hong Kong Monetary Authority, marks a significant achievement for Access Bank’s international aspirations and strategic partnerships.
Access Bank’s commitment to a global presence and adherence to the highest regulatory standards is evident in the decade-long effort to secure a license for operations in the sophisticated and tightly regulated market of Hong Kong.
Herbert Wigwe, Group Chief Executive Officer of Access Holdings Plc and Chairman of Access UK, expressed his excitement and pride, saying, “I am immensely proud that Access UK has secured approval to commence formal banking operations in Hong Kong, marking a monumental achievement in our journey towards global prominence. This license is a testament to our unwavering commitment, strategic foresight, and resilience over the past decade.”
Wigwe emphasized the strategic importance of Hong Kong in Access Bank’s mission to be the world’s most respected African bank.
The bank aims to bring innovative, customer-centric financial solutions to the Asian market, viewing Hong Kong as a cornerstone in expanding its international footprint.
With plans to begin operations in the coming year, Access Bank’s achievement underscores its international capabilities and the strength of its strategic partnerships.
Access Bank UK already operates in the UAE and Paris, reflecting the growing strength of its international operations.
According to Wigwe, establishing a presence in Hong Kong holds immense strategic potential for Access Bank in boosting cross-continental trade. Hong Kong’s status as a global financial hub positions Access Bank strategically to facilitate and enhance cross-border trade between Africa and Asia.
The bank’s commitment to providing innovative financial solutions is poised to play a vital role in supporting businesses and investors engaged in international trade, fostering economic collaboration between African and Asian enterprises.