Business Dossier - The Access Bank UK Limited
Committed to developing a sustainable business model
Jamie Simmonds Chief Executive Officer and Managing Director, The Access Bank UK Limited
This is reflected in our moderate appetite for risk, our passion for customer service and our commitment to building long-term relationships by working in partnership with our customers
38 | May 2021 | International Finance
T
he Access Bank UK Limited is a wholly-owned subsidiary of Access Bank Plc, a Nigerian Stock Exchange-listed company, which provides trade finance, commercial banking, private banking and asset management products and services to customers in their dealings with the Organisation for Economic Cooperation and Development (OECD) markets and support companies wishing to invest in and trade in Sub-Saharan Africa, MENA and Asian markets. The Access Bank UK Limited is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. The Access Bank UK Limited’s Dubai Branch is situated in the iconic Gate Building of Dubai International Financial Centre (DIFC) and is regulated by the Dubai Financial Services Authority (DFSA). Like its parent, the bank is committed to developing a sustainable business model for the environment in which it operates. This is reflected in its moderate appetite for risk, passion for customer service and commitment to developing long-term relationships by working in partnership with its customers. The Access Bank UK Limited also plays a key role in the Group’s vision to be the world’s most respected African bank. As such, it refuses to chase unsustainable yields as a route to growth. Instead, the bank focuses on growing its business through the strength of its customer relationship. In 2018 the bank became a direct member of the three key UK payment clearing systems: Bacs (Bankers’ Automated Clearing Services), C&CCC (Cheque and Credit Clearing Company’s Image Clearing System) and Faster Payments. The Access Bank UK Limited’s Chief Executive Officer and Managing Director, Jamie Simmonds said, “This is a great landmark for us, enabling us to build a sustainable platform with direct entry into the UK payment clearing system. This will enable us to enhance the level of service our customers receive. We have a clear commitment to strong customer service and we anticipate and respond quickly to market needs with the right technology, products and services. Joining the UK payment clearing system is a clear example of meeting the needs of our customers”. The Access Bank UK Limited provides a number of services to support business activities in Sub-Saharan Africa and across the world. Recently, the bank was awarded Confirming Bank status by the International Finance Corporation as part of their Global Trade Finance Programme, thereby strengthening its Trade Finance capabilities even further. It was also the first Nigerian Bank in the UK to be appointed as correspondent bank to the Central Bank of Nigeria to undertake infrastructure work on behalf of the Nigerian government. It issues Letters of Credit on behalf of the Nigerian government and Nigerian National Petroleum Corporation (NNPC). The bank’s commercial banking team offers relationship-based service to its corporate and individual customers. It also offers a wide range of products and services with a choice of competitive rates, market leading systems and top-quality service.
