A delegation from Access Bank Cameroon, led by its Managing Director, Ibukun Odegbaike, was recently in Yaoundé to meet the Cameroonian Minister of Finance, Louis Paul Motazé.
The Nigerian banking group Access Bank announces that it has obtained its approval to open a subsidiary in Cameroon. "Mrs. Ibukun Odegbaike was accompanied by Ellis Nzo and Armel Fabrice Tchoumbou respectively Deputy Chief Executive Officer and Chief Financial Officer. This visit is following the obtaining of the authorization allowing Access Bank Plc to operate as a universal bank on Cameroonian territory, "informs the bank.
With an initial capital of about 14.5 billion CFA francs, the Cameroonian subsidiary of this Nigerian bank will be based in Douala. It thus becomes the second bank in Nigeria after UBA and the 16th commercial establishment to operate in the country.
In operation for 33 years, Access Bank is one of the largest banking groups in Nigeria. Originally, the bank had mainly commercial banking activities like Standard Chartered Bank and CITIBANK in Cameroon. Following the acquisition of the Diamond Bank banking group, Access Bank expanded its retail banking business. The Access Bank Group already has 17 locations on the continent.
