PERFORMANCE : Access Bank Cameroon Records Hikes
Access Bank Cameroon has demonstrated its resilience by recording a growth of 226 % in its deposits, an increase from 21.6 billion CFA francs in December 2022 to 72 billion CFA francs in October 2023. This is contained in the bank’s monthly balance sheet for the month of October.
Having started its activities on May 23, 2022, in Akwa, Access Bank Cameroon continue to invest to in order to expand within the country with the establishment of new branches.
The bank’s expansion plan includes the creation of its second branch in Bonamoussadi in August and is about to launch a third branch in Yaoundé before the end of 2023. Also, Access Bank Plc and Standard Chartered Bank have concluded agreements for the acquisition of Standard Chartered’s shares in its subsidiaries in Angola, Cameroon, The Gambia, Sierra Leone and in its retail and corporate banking activities in Tanzania.
With the ongoing acquisition of Standard Chartered Bank (SCB) in Cameroon, Access Bank Plc is paving the way for an abundance of opportunities that will directly benefit its customers. While Access Bank has been present in Cameroon for more than a year, this acquisition marks an important milestone, as it adds to its already impressive network of subsidiaries in 14 African countries and its international presence in the United Kingdom, the United Arab Emirates, China, Lebanon, France and India.
This operation is decisive in the Bank’s approach aimed at supporting financial inclusion and building a solid global franchise, focused on the role of bridge and support for investment and trade in Africa, on the one hand, and between Africa and the rest of the world, on the other hand. This dynamic ecosystem of local and international partnerships will allow the bank to offer its more than 60 million customers a transparent and efficient global payments and funds transfer service.
S. N
