The Group Managing Director/Chief Executive, Access Bank Plc, Herbert Wigwe
From benjamin a ameh, Lagos
Taking charge of tomorrow through effective risk management, therefore, Access bank would place more emphasis on its retail business and strive for a leadership position in customer service.
The Group Managing Director/Chief Executive, Access Bank Plc, Herbert Wigwe stated this while addressing shareholders at the 26th annual general meeting (AGM) in Lagos even as he disclosed to the shareholders that, in 2014, we concentrated on reinforcing the financial health of the organization in line with our corporate strategy of bemoaning the world’s Most Respected African Bank in 2017
Wigwe also said our bank was able to report significant improvements across all indices in spite macroeconomic turbulence and regulatory headwinds.
The managing director further pointed out that management is considering steps being currently taken by the bank to raise fresh capital through eurobond and rights issue would place the bank ahead of the Central Bank of Nigeria (CBN)’s headwinds as results from the success recorded in the rights issue. He assured the shareholders that bank would pay high dividend at the end of the current financial year.
“To become the world’s most respected African bank, which is our ambition that respect has to start close to home. Only if we show respect for our employees, our stakeholders and the communities in which we operate-and backup our belief with action-will we be able to deliver tomorrow what we talk about today.
“All we are doing now is to secure the future of the bank and we are on the right course. You should expect better dividend next year. When some of the seeds we are germinating now began to bring fruits, it will be to the admiration and satisfaction of our shareholders,” he said.
Also in addressing the shareholders, Chairman of the bank, Gbenga Oyebode, pointed out that the bank’s ability to generate strong financial performance despite adverse market condition is a testament to the efforts of the management team. In the year under review, the bank improved its revenue generation capacity as gross earnings rose to N245 billion from what was recorded in 2013, while profit before tax rose by 20 percent to N52 billion, he added.
Oyebode noted that “As we pursue our mission and vision, we are confident that the strategic direction we have chosen is sound. We will maintain our strong capital and liquidity, managing risk effectively and operating efficiently to reduce costs as the bank was committed to the goal of reaching the pinnacle in Nigeria and sub-saharan Africa.” The company would maintain strong capital and liquidity and ensure effective risk management to reduce cost which he attributed the bank’s performance to the efforts of the management team and staffers in ensuring value creation, the Chairman stated.
