Access holdings offers 17.7bn shares to shareholdersmmm, eyes N10trn profit by 2027

Access Holdings Plc has disclosed that it is set to offer 17.7 billion shares to shareholders. This as revealed it aims to achieve a profit of N10 trillion by 2027.

This was disclosed by the Chief Executive Officer of Access Bank, Roosevelt Ogbonna, at a ‘Facts Behind the Right Issue Presentation by Access Holdings Plc’ in Lagos.

He added that the projection underscored the company’s commitment to becoming a global banking leader for expansive growth and robust financial performance.

Highlighting the bank’s vision of transforming into Africa’s gateway to the world, he said, “We are positioning ourselves to be one of the most respected banks globally, focusing on superior service across three continents and spanning 22 countries, including the UAE and the UK.”

According to Ogbonna, the bank’s customer base is expected to grow to 125 million by 2027, further cementing its market leadership.

He noted that the bank’s focus on strategic market entry and consolidation efforts aimed to build a strong franchise across Africa.

“Our journey from a handful of branches to a global presence showcases our dedication to sustainable growth.

“By 2027, we aim to be one of the top five banks globally, powering trade across the continent and providing superior services to our customers,” Ogbonna reiterated.

To support its growth plans, the Chairman of Access Holdings, Aigboje Imoukhuede, stated that the company was offering 17.7 billion shares at N19.75 each through the right issue.

He added that this rights issue aims to raise substantial capital for expanding the bank’s operations and enhancing its service offerings.