Access Bank UK granted licence to operate in Hong Kong offering inroads into Asian market

ACCESS Bank UK the wholly owned subsidiary of Access Bank has just received approval to commence operations in Hong Kong in a major breakthrough that will allow the institution to realise its dream of expanding into the Asian continent.

In what the bank has described as a significant milestone in its plans towards realising a five-year strategic plan, Access Bank UK,  is now authorised to operate in Asia. According to the bank, this approval, granted by the Hong Kong Monetary Authority, stands as a testament to Access Group’s international capabilities and strategic partnerships.

Herbert Wigwe, the chief executive of Access Holdings and chairman of Access Bank UK, expressed his excitement and pride in achieving this long-awaited goal. He added that Access Bank’s commitment to a global presence and adherence to the highest regulatory standards is underscored by its decade-long effort to secure a licence for operations in the sophisticated and tightly regulated market of Hong Kong.

Mr Wigwe said: “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 licence is a testament to our unwavering commitment, strategic foresight and resilience over the past decade. Across the Access Group, we are excited about the possibilities that lie ahead.

“Hong Kong serves as a strategic cornerstone in our mission to be the world’s most respected African bank,and we are ready to bring innovative, customer-centric financial solutions to the Asian market. We look forward to the opportunities and challenges that come with expanding our footprint in this dynamic international arena.”

With plans to commence operations in the coming year, this achievement reflects Access Group’s international capabilities and the strength of its strategic partnerships, scaled through the growing strength of its international operations through Access Bank UK with regulated operations in the United Arab Emirates (UAE) and Paris. Hong Kong, renowned for its status as a global financial hub, serves as a pivotal gateway connecting Asia with the rest of the world.

Access Bank’s presence in this sophisticated market positions it strategically to facilitate and enhance cross-border trade between Africa and Asia. With its commitment to providing innovative financial solutions, Access will play a vital role in supporting businesses and investors involved in international trade.

Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning three continents, 20 countries, and over 60m customers. It employs over 28,000 people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.