Access Holding Plc said its wholly owned subsidiary, Access Bank UK, is well positioned to become one of the top 20 banks in the country, generating profit of about $1 billion yearly, just as the bank urged shareholders to participate actively in its ongoing rights issue.
The bank is embarking on a capital raising of N351 billion by way of a rights issue to existing shareholders. Under the rights issue, 17.772 billion ordinary shares will be offered at N19.75 per share.
According to him, its resolve to provide innovative financial solutions has played a vital role in supporting businesses and investors involved in international trade over the years. “All our earnings are in the UK dollarised. So it means every time there is a devaluation, our UK business continues to grow, so we have created a natural hedge. We did it at the time when the naira dollar was less than 200.
Managing Director of Access Holdings PLC , Aigboje Aig-Imoukhuede, urged shareholders to participate actively in the ongoing rights Issue.
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