Access Bank Opens N193.23bn Commercial Papers for Subscriptions
The wholly owned subsidiary of Access Holdings Plc, Access Bank, has opened N193.25 billion in commercial papers for subscription, a separate investment banking firm said in their investors’ notes.
The financial institution plans to raise the total sum from series 3 and series 4 commercial papers to augment its short-term funding demand under its N400 billion Commercial Paper Programme.
The offer is scheduled to close on Tuesday, March 25, 2025, Comercio Partners Capital Limited told investors in an emailed note on Thursday. The wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 24 countries, and over 60 million customers.
The Bank is a diversified financial institution that combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities.
As of Q3 2024, Access Bank posted total assets of N40.6 trillion, of which N11.9 trillion were in loans and advances to customers, N22.3 trillion in customer deposits, N3.5 trillion in shareholders’ funds, and a capital adequacy ratio of 20.42%.
During the period, the group achieved N3.4 trillion in gross earnings, delivering a 22.1% return on equity. Access Bank is the first Nigerian bank to meet the CBN’s N500 billion minimum capital requirement for banks with international authorisation, well ahead of the 2026 deadline.
The bank’s share capital exceeds N600 billion, surpassing the regulatory requirement by N100 billion. Access Bank is rated Aa by Agusto & Co. and AA by GCR, reflective of its position as the largest bank in Nigeria and growing market share in Africa.
Also underpinning the strong ratings is the well-capitalised fortress balance sheet, asset quality, strong profitability profiles, and the bank’s proven and stable management team. #Access Bank Opens N193.23bn Commercial Papers for Subscriptions Seplat Energy Prices $650m 9.125% Notes Due in 2030
