Access Bank, the largest bank in Nigeria, has officially inaugurated a new branch in Hong Kong, marking a significant milestone in its international expansion. Jamie Simmonds, founder of Access Bank UK, discussed the development in a recent interview, emphasizing Hong Kong’s strategic significance as a pivotal hub for trade between Africa, China, and the broader Asia-Pacific region.
Simmonds underscored that the bank’s international division is essential for supporting the growing footprint of its parent company across Africa, allowing for enhanced connectivity and business opportunities. This expansion arrives amid increasing geopolitical tensions between the US and China, as well as a surge in Chinese investments in Africa, positioning Hong Kong as an important player in the global trade landscape.
CEO Roosevelt Ogbonna highlighted Access Bank’s strategic vision, stating that the bank views Hong Kong as a critical gateway for international trade. The head of the new branch, Ernest Law, articulated the bank’s goal of achieving profitability by 2027. Initially, the focus will be on trade finance, with plans to gradually expand into commercial banking services, aiming to leverage the branch’s capabilities for broader financial offerings.
