Access Bank Plc has announced that it plans to shifts its focus to retail banking in the next few months.
According to the bank, retail banking activities will account for about 50 per cent of its total business in five years time, up from its current 30 per cent.
The Group Managing Director of the bank, Mr. Aigbije Aig-Imoukhuede, said this during the presentation of its 2013-2017 (five-year) strategic plan to its investors on Wednesday.
He explained that the bank aimed to grow its customer base, currently at six million, to about 20 million across its African markets by 2018.
He added that Access Bank would be involved in divestments of assets by oil companies.
He said, ?As part of our continued growth strategy, the bank is focused on mainstreaming sustainable business practices; in its operations, the bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant.
?The bank has over 800,000 shareholders including several Nigerian and international institutional investors and has enjoyed what is arguably Africa?s most successful banking growth trajectory in the last eleven years, ranking amongst Nigeria?s five largest and Africa?s top 20 banks by total assets and capital.
Meanwhile, the bank has announced that Aig-Imoukhuede will retire at the end of 2013 after eleven and a half years of service to the company.
The bank announced that he would be replaced by the current Group Deputy Managing Director, Mr. Herbert Wigwe.
The bank, in a statement, added that in line with the bank?s robust succession policies, Aig-Imoukhuede and Wigwe would spend the next six months to implement a seamless handover.
Source: http://www.punchng.com/business/money/access-bank-to-focus-on-retail-business/
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