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Access Bank UK Posts £12.5m 2016 Profit, Holds 10th Polo Day

Access Bank UK Limited recently published its annual report for the year ended December 31, 2016, indicating that earnings was slightly faster than profit before tax, a performance the management described as impressive growth indicators.
According to the result, operating income rose 27% to £25m, while profit before tax increased 45% up to £12.5m; while assets grew by 81% to £1.1bn.
Jamie Simmonds, the bank’s Chief Executive and Managing Director said: “Our objective is to grow a sustainable business through customer service excellence, and innovative solutions in trade finance, commercial banking, private banking and asset management.”
During the year, the bank received an award as Best Africa Trade Finance Bank, for the second year running, just as it was voted by CFI-Co readers and contributors, which Simmonds believes is a testimony to the value of its principles of relationship-based banking, growing business through the depth and quality of customer relationships, while at the same time maintaining a moderate appetite for risk.
“Our achievements owe a great deal to the strong partnership that we have with our parent company, as evidenced by our joint support of the Access Bank Day at the Guards Polo Club in Windsor.”
‘Access Bank Polo Day’ at the Guards Polo Club, Windsor, is the 10th edition jointly with the group as part of a continued support for UNICEF projects which aims at reaching out to and highlighting the plight of vulnerable children and orphans and internationally displaced persons.
From its’ base with 5th Chukker in Kaduna, Nigeria, the Access Bank/UNICEF Charity Shield has grown to be the biggest charity polo tournament in Africa and generates interest and support from organisations and individuals across Africa for the UNICEF/Access initiative.
Since the UNICEF/Access Bank initiative was started in 2007 it has seen the rebuilding of two schools in Kaduna, while over 8,000 students are sustained in continuous education. At the same time, it is developing new school blocks and a computer literacy building all in a more secure and friendly school environment. The communities surrounding the schools are also being supported with bore-holes for water, and sewing and grinding machines to secure employment and stimulate economic and social development.
Explaining the reason behind the Bank’s continued support for the Fifth Chukker UNICEF initiative, Access Bank’s Group Managing Director and Chairman of The Access Bank UK Limited, Herbert Wigwe said: “We are conscious of our role as a change agent in Nigeria that can help institute socio-economic development through responsible business practice and environmental considerations.
“In addition, we are continually seeking ways through which more resources can be pooled towards supporting the children. We are part of the community and as such should support its wellbeing.”

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