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MarketScreener Homepage  >  Equities  >  Nigerian Stock Exchange  >  Access Bank Plc    ACCESS   NGACCESS0005

ACCESS BANK PLC

(ACCESS)
  Report
End-of-day quote. End-of-day quote Nigerian Stock Exchange - 01/21
9.25 NGN   0.00%
01/20ACCESS BANK : Targets Eight More African Countries in Expansion Drive
AQ
01/13ACCESS BANK : Unveils Revised Customer Complaint Channels
AQ
01/07ACCESS BANK : Completes Acquisition of Zambian Bank
AQ
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Access Bank : Ade Bajomo becomes President of FinTechNGR explains Technology and Innovation will drive Nigeria's Banking Sector Post-COVID

11/18/2020 | 08:33pm EST

Ade Bajomo becomes President of FinTechNGR explains Technology and Innovation will drive Nigeria's Banking Sector Post-COVID

Access Bank has shown its commitment to advancing the frontiers of industry agnostic technological innovation across Africa with Nigeria in focus. This position is entrenched by Access Bank's sponsorship of the Nigerian Fintech week 2020. The week long event sought to highlight FinTech as a solution to problems across different industries including health, agriculture and logistics.
Speaking at the event, Ade Bajomo, the Executive Director for Information Technology and Operations at Access Bank Plc, said, 'Access Bank is committed to positively impacting lives and building the economy through technology. For years, the Bank has invested in several initiatives geared towards improving access to tecnological innovations while providing platforms for tech enthusiasts to innovate and make massive impact on the society.' One of such innovation is Facepay which is a pioneer solution in Africa that captures the face of an individual and leverages same to grant access to financial services for the unbanked, make instore payments seamlessly at merchant locations and subsequently build queless branches.
Furthermore, Ade Bajomo spoke about how various Digital identity systems are leveraged across the world to provide economic inclusion for 1 Billion people who are estimated to lack access to financial services because they do not have a form of legally recognised Identity.The foremost example was how India's Aadhaar identity manangement programme which has 1.2 billion indians has been leveraged for financial inclusion,direct beneficiary programmes, humanitarian assistance, AML compliance and cost savings in Government processes. He stated that Nigeria has a lot to learn from this and Access Bank is at the forefront of leveraging digital identity systems to promote economic inclusion.
Mr Bajomo also added that 'By partnering with the Africa Fintech Foundry and sponsoring a momentous occasion like the Nigerian FinTech Week, the Bank is contributing to the strides that we are experiencing in the Fintech landscape and to the growth of the economy at large. This is done through thought leadership, acceleration and incubation of tech start-ups, hosting of hackathons and delivering digital products tailored to the African market. Through these interventions, other sectors of the economy would be able to experience a 360-degree growth as well.'
Further cementing Access Bank's involvement in the Fintech, Mr Ade Bajomo was inaugurated as the new President of FintechNGR at the 2020 AGM of the association. Speaking after his inaugauration , he stated that he would work with members of the association and the industry to create solutions, employment, wealth and capacity, as well as position Nigeria as a leading market for global FinTech Innovation and Investment.
In his capacity as president, Mr Bajomo will be tasked with furthering the strategic mandate of the association to accelerate, connect and advocate with all stakeholders which includes Members of Fintech Association of Nigeria, innovators and Fintech thought leaders, techpreneurs, Venture capitalists, accelerators, the Regtech Community, other Fintech associations and other well meaning partners who can help the association realise its ambitions.

Disclaimer

Access Bank plc published this content on 19 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 01:32:06 UTC


© Publicnow 2020
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Financials
Sales 2020 465 B 1 238 M 1 238 M
Net income 2020 107 B 284 M 284 M
Net Debt 2020 - - -
P/E ratio 2020 3,17x
Yield 2020 7,18%
Capitalization 325 B 856 M 865 M
Capi. / Sales 2020 0,70x
Capi. / Sales 2021 0,67x
Nbr of Employees 6 898
Free-Float 81,4%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 10,94 NGN
Last Close Price 9,25 NGN
Spread / Highest target 94,6%
Spread / Average Target 18,3%
Spread / Lowest Target -51,4%
EPS Revisions
Managers and Directors
NameTitle
Herbert O. Wigwe CEO, Executive Director & Group Managing Director
Ajoritsedere Awosika Chairman
Adeolu Bajomo Executive Director & Executive Director-IT
Miabiye Tonye Koko Chief Information Officer
Anthonia Olufeyikemi Ogunmefun Non-Executive Director
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