Access Bank bags CBN’s Award

The Central Bank of Nigeria, CBN, has announced Access Bank Plc as Nigeria’s most sustainable bank of the year.

This is not the first time the tier-1 bank is receiving the prestigious recognition. In a statement issued on Monday, Access Bank claimed that the latest award validates efforts that have been put in place to make sustainability the core of the institution’s operations and service delivery.

Reacting to the development, Access Bank’s Group Managing Director, Herbert Wigwe, said it is an honour to receive such an accolade from the apex bank. This is because it shows efforts being made by him and his team are being recognized.

He also used the occasion to specially thank his team whom he said made it all possible. He also thanked them for believing in Access Bank’s policies.

“We are very excited to have been done this honour by the Central Bank of Nigeria. We see it as more than an award but an indicator that our efforts are been recognized and a challenge for us to keep at it. We dedicate these awards to our loyal customers and committed staff members for believing in the bank’s vision of helping to build a sustainable Nigeria and by extension, Africa.” – Wigwe

The bank’s Head of Sustainability, Omobolanle Victor-Laniyan, also reacted to the development, albeit excitedly. According to her, the recognition will encourage the bank to do more as far as sustainable banking is concerned.

“We have in time past received several awards for our efforts in sustainability but we are particularly excited about this one for obvious reasons especially as we are winning some categories back to back. This further proves that our efforts are being recognised and duly rewarded, and for this, we are really grateful.”

Access Bank market capitalization stands at N216.9 billion, and its share price is currently trading at N7.4.

The bank’s recently released third quarter 2018 result shows that revenue increased by 3% to N375.2 billion, up from N365.1 billion in Q3 2017.

Profit After Tax increased from N56.4 billion which was recorded during the same period in 2017 to N62.9 billion for the third quarter of this year.  This amounts to a 12 per cent increase year on year.