Access Bank UK Limited has launched its new branch in Hong Kong (a restricted licence bank).
Aside the launch, it has also announced its expansion into Asia. According to the Bank, the expansion represents a key milestone in its global growth strategy and underscores its commitment to serving clients in the Asia-Pacific region.
Launching the Hong Kong branch establishes Access Bank, as the first West African bank to enter the territory, a groundbreaking move to facilitate and accelerate trade flows between Asia and Africa.
As a leading international financial centre and gateway to Asia, Hong Kong is ideally positioned to become a strategic hub, strengthening trade and connectivity between the region and Africa. Through its presence in Hong Kong, the Bank will capitalise on the expanding economic partnership between Asia and Africa, supporting the increasing trade flow between these regions.
Speaking at the ceremony, Consul General for the Consulate in Hong Kong, (China), Ambassador Oludare Folowosele, said, “I am delighted to celebrate 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 developing trade flows between Asia and Africa as the first West African banking group to attain this status. This also aligns perfectly well with the Belt and Road initiatives between China and Africa, where we see growing business opportunities between the two countries.”
Founding Chief Executive Officer & Managing Director of The Access Bank UK Limited, Jamie Simmonds, expressed his commitment to this strategic initiative, saying, “In recent years, Asia has emerged as Africa’s largest trading region and in 2023, China-Africa trade reached an all-time high of USD 282.1 billion, reflecting a 1.5% year-on-year growth. 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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