The Access Bank UK Limited has announced the official opening of its Hong Kong branch (a restricted licence bank). This expansion represents a key milestone in the bank’s global growth strategy and underscores its commitment to serving clients in the Asia-Pacific region.
The launch of the Hong Kong branch establishes the Access Bank UK Limited as the first West African bank to enter the territory.
The move would facilitate and accelerate trade flows between Asia and Africa.
Hong Kong is ideally positioned to become a strategic hub, strengthening trade and connectivity between the region and Africa.
The bank noted that through its presence in Hong Kong, it will capitalise on the expanding economic partnership between Asia and Africa, supporting the increasing flow of trade between these regions.
According to the bank, opening the branch in Hong Kong is a pivotal step in its international expansion.
Speaking at the ceremony, Consul General of the Consulate General of The Federal Republic of Nigeria, Ambassador Oludare Folowosele said, “I am delighted to celebrate today the opening of a Restricted Licence Bank in Hong Kong in the name of The Access Bank UK Limited.
“This is a huge milestone in the development of trade flows between Asia and Africa as the first West African banking group to attain this status. This also aligns perfectly well onto the Belt and Road initiatives between China and Africa where we see growing potentials for business flows between the two countries.”
Founding Chief Executive Officer & Managing Director of the Access Bank UK Limited, Jamie Simmonds expressed his commitment for this strategic initiative, saying, “In recent years, Asia has emerged as Africa’s largest trading region driven by programs like the Belt and Road Initiative.
“In 2023, China-Africa trade reached an all-time high of $282.1bn, reflecting a 1.5 per cent year-on-year growth. As Asia-Africa economic relations enter a new phase, the timing of our Hong Kong branch launch is ideal to meet the financing and banking needs of our clients in these expanding markets.”
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