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

ACCESS BANK PLC

(ACCESS)
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Access Bank : Rwanda Introduces Agency Banking

11/03/2020 | 05:06am EST

Access Bank Rwanda has introduced a novel product of agency banking dubbed 'Ikaze Agency Banking' with an aim to improve proximity to customers and increase presence across the country.

The model allows Access Bank to contract third party retail networks across the country to serve as banking agents offering financial services on their behalf.

Olivier Gakuba, the Bank's Group Head of Strategic Business Units told The New Times that the development is in response to a quest to penetrate the local market and improve access to financial services.

"Exceptional customer experience is key to us as Access Bank, We want our customers to feel welcome not just to the banking halls but to all our touch points. We want to establish a relationship with everyone who is bankable irrespective of their income range or social status and provide our existing and new customers access to the global financial marketplace via our strong network of business presence across continents - Africa, Europe, Asia etc thus the name Ikaze," said Gakuba,

"Our focus is based on financial inclusion and the need to drive digital platforms enabling our customers to access financial services right within their neighbourhood," he added.

Access Bank's Ikaze agents are in position to offer a range of services including; cash deposit services, cash withdrawal services, account opening, and local interbank transfers. Agents will also issue clients with our novel digital enabled cards compatible with Point of Sale Machines and android devices enabling digital payments.

"These NFC cards will be issued at any of our Ikaze Agents' outlets and will enable customers to conduct their cash-in and cash-out transactions seamlessly. In addition to that, Ikaze Agency Banking model is compatible with a user-friendly android supported application that will enable customers to do basic transactions at the comfort of where they are without referring to the Agents," explained Gakuba.

The bank is also working to ensure it is compatible to other operating systems ensuring no one is left out on a new way of banking

With Access Bank Ikaze Agency, one can easily open an account at an agent outlet and get to enjoy the benefits of being formally banked such as savings, access to credit among others. Every Agent's outlet is branded with an "Access Ikaze" Signage.

By rolling out the model, the bank is also increasing the number of players in the financial system value chain consequently creating jobs and economic opportunities.

"To assure the quality of services provided, level of professionalism and relevance, our agents receive trainings from the Bank to ensure that services delivered match the Bank's values and customer engagement standards" Gakuba added.

Gakuba emphasized that in line with the Bank's strategic direction, Access Bank Rwanda remains committed to providing retail digital financial solutions that not only meets customers' lifestyle and financial needs but provides convenience, ease, security and exceptional customer experience.

The intent is to cater to all the needs of our customer segments, support financial inclusion and provide a platform for all to have access to the global marketplace.

Copyright The New Times. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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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 3,20x
Yield 2020 7,10%
Capitalization 329 B 860 M 874 M
Capi. / Sales 2020 0,71x
Capi. / Sales 2021 0,68x
Nbr of Employees 6 898
Free-Float 81,4%
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Technical analysis trends ACCESS BANK PLC
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 10,94 NGN
Last Close Price 9,35 NGN
Spread / Highest target 92,5%
Spread / Average Target 17,0%
Spread / Lowest Target -51,9%
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
Sector and Competitors