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Access Bank has the right strategy to build upon current momentum—Wigwe

The Group Managing Director of Access Bank Plc., Mr. Herbert Wigwe has given fresh assurance that the bank’s economic outlook remains strong and encouraging.

Speaking in an interview, he said “Although economic uncertainties and changing regulation present challenges, I believe that we have the right strategy to build upon our current momentum and emerge as a leading institution. Indeed, the year ahead presents a defining opportunity for us to break new grounds and move closer to our goal of becoming the world’s most respected African bank”.

Continuing, he recalled that “Though we have made significant progress in delivering on our growth objectives, more work lies ahead to ensure that we are well-positioned for longer-term value creation. This year, we will place greater emphasis on growing our retail franchise, cost discipline and proactive risk management as key drivers for enhanced bottom-line growth.

“The strategies laid out for 2018 and beyond, will also see a combined focus on leveraging our enlarged corporate and retail customer base and our balance sheet a lot more efficiently to attain our objectives.

On what makes the bank thick, the GMD explained that “Our path to number one in Nigeria and the world’s most respected African Bank will be built on six elements: Retail banking growth & wholesale banking consolidation, to dominate rising middle segment and capture growth in other deposit rich transaction segments; Digital led bank, with focus on enhancing consumer experience through automation of processes along the customer experience journey”.

Others in his views include “Customer focused bank, putting the customers first by providing them with positive experience coupled with tailored offerings at every point of contact, Analytics driven insights and robust risk management, achieved by leveraging data driven insights from advanced analytics drive deeper customer understanding and make on-point decisions, Global collaboration by identifying and pursuing opportunities particularly in trade, payments and correspondent banking”.

The last and not the least is riding on Universal payments gateway, which will enable the bank become a global payments solutions provider and the dominant intermediary for payments across Africa by developing proprietary solutions and partnerships.

Wigwe averred that “Our management team and employees have built an exceptional organization that is one of the most trusted and respected financial institutions in Nigeria. Their dedication, fortitude and perseverance made it possible”.

He said being guided by the bank’s solid strategy, “I believe that Access Bank is ready and well equipped to deliver sustainable long-term success and take the lead in 2018 and beyond”.