BusinessBanking/FinanceAccess Targets 100m Customers In 5yrs- Wigwe

Access Targets 100m Customers In 5yrs- Wigwe

Fidelity Bank Plc

The Group Chief executive, Access Corps, Herbert Wigwe says the bank is targeting over 100 million retail customers by 2027. This is part of the group’s agenda for the next five years, he said.

Wigwe noted that the bank curently has one of the largest customer base in the county with over 50 million active customers by the end of 2022.

The groups chief executive reiterates it’s five year strategic plan to make Access Bank one the top five banks in Africa by the end of 2027.

He explained that the bank has shattered the ceiling in the fiancial sector to become the largest bank in terms of customer base and balance from its 69 position 20 yeas ago.

“Then (2002), there was hardly any space for us. But between 2007 and 2012, through hard work, we became one of the top 10 banks in the country and the banking sector consolidation under Prof. Charles Soludo changed everything as we went into the market to raise capital,” he said.

“Between 2012 and 2017, we told ourselves that we wanted to be one of the top three banks and we started by growing organically. Presently, we are in the last year of our 5-year corporate strategy which ends in 2022 and we shall have another five-year strategy for 2022 to 2027.”

Wigwe spoke in Lagos during the launch of the corporation’s new five-year strategic plan 2023 to 2027, saying the banking arm of the corporation will serve as the springboard for increasing its revenue, asset base and profitability, adding that Access Bank will “be truly known as global player in the market.”

“Access Holdings will be in the eye of the storm, having transformed to become a leading financial and ecosystem player, with its core business as the foundation. We want to be truly known a global player in the market.

“I have no doubt that we are truly on our way to becoming a global bank with an African heritage.

“We will also make sure that our corresponding banking is made stronger at the end of the five-year plan due to the fact that our subsidiaries, especially the one in UK are growing well.

“This is well structured strong organic growth and to ensure that we expand, we will need the right technology and skill to do so.”

Meanwhile, analysts insist that the bank has proven to be a top player in the financial sector of the Nigerian economy considering it’s trajectory when it started business 20 years ago, therefore, its on the right path to becoming one of the top five banks in the continent.

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