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


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Access Bank : Reiterates Commitment to Innovation

11/09/2020 | 08:06am EST

Access Bank has expressed its commitment to advancing the frontiers of industry agnostic technological innovation across Africa with Nigeria in focus.

This position was entrenched by Access Bank's sponsorship of the Nigerian Fintech week 2020.

According to a statement from the bank, 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, the Executive Director for Information Technology and Operations, at Access Bank Plc, Ade Bajomo 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, Bajomo spoke about how various digital identity systems were leveraged across the world to provide economic inclusion for one 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.

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, Bajomo was inaugurated as the new President of FintechNGR at the 2020 AGM of the association.

Speaking after his inauguration, 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.

Copyright This Day. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Sales 2020 465 B 1 231 M 1 231 M
Net income 2020 107 B 282 M 282 M
Net Debt 2020 - - -
P/E ratio 2020 3,17x
Yield 2020 7,18%
Capitalization 325 B 850 M 860 M
Capi. / Sales 2020 0,70x
Capi. / Sales 2021 0,67x
Nbr of Employees 6 898
Free-Float 81,4%
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Technical analysis trends ACCESS BANK PLC
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Income Statement Evolution
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
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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