The Access Bank UK Limited has officially launched its Hong Kong branch, marking a significant step in its international expansion strategy and establishing it as the first West African-owned bank to enter this pivotal financial market. With a restricted licence bank status, this new branch underlines Access Bank’s ambition to facilitate increased trade between Africa and the Asia-Pacific region, especially as Asia emerges as one of Africa’s largest trading partners.
Strengthening Asia-Africa Trade Relations
The Hong Kong branch serves as an essential hub, enhancing connectivity and trade flow between Asia and Africa. As a global financial center and gateway to Asia, Hong Kong offers Access Bank the perfect platform to drive economic partnerships and support its clients’ trade needs in Asia. According to Jamie Simmonds, Founding CEO of Access Bank UK Limited, “With programs like the Belt and Road Initiative bolstering Asia-Africa relations, the timing of our Hong Kong branch launch aligns perfectly with growing trade volumes, which hit USD 282.1 billion in 2023.”
A Key Role in Access Bank’s Global Strategy
The Hong Kong branch, led by Managing Director Ernest Law, is expected to focus on international trade finance and commercial banking, initially employing a team of 25. Law shared his enthusiasm, stating, “This new branch will enable us to engage more closely with clients in Hong Kong, offering tailored financial solutions across the region.”
For Access Bank, the Hong Kong branch represents a strategic milestone in connecting their extensive African and European network with the fast-growing Asian market. As Ambassador Oludare E. Folowosele, Consul General of Nigeria, highlighted during the opening, “This new branch aligns with the Belt and Road initiatives, further strengthening the bridge for business flows between Asia and Africa.”
About Access Bank and Its Vision for Growth
A subsidiary of Access Holdings Plc, Access Bank operates in over 23 countries with a strong African presence, catering to more than 60 million customers globally. The bank combines retail banking with digital platforms, corporate banking expertise, and robust risk management. Also, This new Hong Kong branch strengthens Access Bank’s global presence, reinforcing its commitment to international trade support and dynamic growth across continents.
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