Access Bank Plc

A salesperson smiling at the camera in a shop

In brief

Access Bank is the largest bank in Nigeria, with more than 36 million customers. Access Bank serves retail, small and medium-sized enterprises (SMEs) and corporate clients through almost 400 branches across Nigeria. Access Bank has a long history with Development Finance Institutions and has implemented corporate governance and risk management practices, including those related to E&S sustainability. Access Bank’s vision is to become Africa’s gateway to the world. The funding provided by Finnfund will be allocated to strengthen Access Bank’s Tier II capital and enable the bank to provide increased financing to SMEs in Nigeria during the economic crisis due to the COVID-19 pandemic.

Main development impact

Due to the loan facility’s Tier II nature, Access Bank can leverage the facility to attract more funding to finance SMEs. Financing SMEs will enable them to invest in their businesses, which leads to job creation and contributes to the country’s overall economic development and growth, as lack of access to finance is a reason many of these businesses struggle. Further, the bank is a forerunner in women’s financial empowerment. This transaction qualifies for the 2X Challenge portfolio based on the 2X Eligibility Criteria on employment, leadership, and consumption.

Investment details

Name: Access Bank Plc
Project number: 80000002
Region: Africa
Country: Nigeria
Sector: Financial institution
Signing date (month/year): December 2020
Currency: USD
Finnfund's financing (commitment): 10,000,000
Instrument: Loan
Size of the project financing: USD 93,000,000
Share of Finnfund's financing (%): 11 %
Status: Active
Website: www.accessbankplc.com

Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.

Other investments

Name Country Signing date (month/year) Currency Finnfund's financing (commitment) Instrument
A.T. Biopower Co. Ltd. Thailand 2004
Access Bank Plc Nigeria July 2024 USD 10,000,000 Loan
December

Key facts

Name:

Access Bank Plc

Sector:

Financial institution

Region:

Africa

Country:

Nigeria

Currency:

USD

Finnfund's financing (commitment):

10,000,000

Signing date (month/year):

December 2020

Last update:

April 2021