ACCESS BANK PLC.
Status: Completed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Access Bank Plc is a full-service commercial Bank operating through a network of 310 branches and service outlets located in major centres across Nigeria, Sub-Saharan Africa and the United Kingdom. Listed on the Nigerian Stock Exchange in 1998, the Bank serves its various markets through 5 business segments: Corporate and Investment Banking, Commercial Banking, Business Banking, Personal Banking, Operations and IT Divisions. The Bank has over 800,000 shareholders including several Nigerian and International Institutional Investors and has enjoyed one of Africa’s most successful banking growth trajectory in the last 16 years.
What is our funding objective?
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible and socially relevant.
Why do we fund this investment?
FMO continues to support this client along the mutual strategy of sustainable commercial development through empowering local entrepreneurs in the agribusiness and SME sectors in Nigeria.
What is the Environmental and Social categorization rationale?
Access Bank is a longstanding client of FMO. The bank is classified as E&S Category A in accordance with FMO’s Sustainability Policy. The clients in Access Bank’s portfolio are active in sectors which have potential significant and adverse environmental and social impacts. Main sector exposure is to oil & gas. Environmental and social challenges the bank is facing in its portfolio are pollution, operational health & safety, waste management, poor working conditions and affected local communities. Access Bank has a team of environmental & social experts within the bank that work with the bank’s clients to mitigate the negative impacts of their activities. Access Bank received a number of sustainable banking awards. This is a clear recognition from external stakeholders that Access Bank is performing above sector average on environmental & social risk management. As part of the agreement with Access Bank, the bank will be required to apply the EDFI Exclusion List, local E&S laws and regulations (including the Nigerian Sustainable Banking Principles and the IFC Performance Standards Framework for certain identified projects.
More investments
| Date | Total FMO financing |
|---|---|
| 12/9/2021 | USD 45.00 MLN |
| 7/23/2020 | USD 55.00 MLN |
| 1/30/2019 | USD 30.00 MLN |
| 10/29/2019 | USD 30.00 MLN |
- Region
- Africa
- Country
- Nigeria
- Sector
- Financial Institutions
- Effective date
- 12/18/2017
- End date
- 1/12/2023
- Total FMO financing
- USD 38.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A