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Aug 24, 2009 Access Bank Inaugurates Ghana Subsidiary
The shares of Access Bank Plc led the volume of trading yesterday at the stock market despite the return of the bears. After two days of absence, the bears returned to the market yesterday causing indicators to close lower. The Nigerian Stock Exchange (NSE) All-Share Index, which had appreciated last Thursday and Friday, fell by 0.9 per cent to close lower at 21,279.53. Similarly, the market capitalisation shed N45 billion to close at N4.878 trillion. However, amid the bears, some investors found the shares of Access Bank to be very attractive. Consequently, a total of 201 million shares of the bank worth N972.458 million were traded in 325 deals. The shares, which are about 1.2 per cent of the paid up share capital of the Access Bank, accounted for 49.5 per cent of the total volume of shares traded at the market yesterday.

In all investors traded 405.711 million shares valued at N2.908 billion in 4,780 deals, depicting a marginal decrease from the 411.182 million shares worth N3.488 billion transacted last Friday. The high transaction in the shares of Access Bank helped the banking sub-sector to sustain its dominance of the activity chart. The sub-sector recorded 341.263 million shares valued at N2.454 billon in 2,642 deals. First Bank of Nigeria Plc trailed behind Access Bank as the second most active in the sub-sector with 31.643 million shares valued at N461.919 million exchanged in 743 deals.
Access Bank plans fresh debt issue
Access Bank Plc is set to raise fresh debt once its current N13.5billion 3-year bond expires at the end of December 2009. Aigboje Aig-Imoukhuede, group managing director and chief executive officer of the bank said this last week through a telephone interview with media representives. According to him, Access Bank has a bond that is alive and as the bond is running off this year, we intend to issue a fresh. We intend to issue a new tranche to diversify our capital and funding structure.

He however gave no details on the volume of the planned issue. Access Bank is the third Nigerian bank to have announced plans in the past month to raise debt. Guaranty Trust Bank will seek approval for a N200 billion debt issue at an extraodiary general meeting an August 27, while First Bank Plc also want to raise a N500 billion bond.
Access Bank to play Leading role in Ghana`s oil
Access Bank has formally announced its entrance into the Ghanian banking industry with an assurance that it will play leading role in the country`s emerging oil and gas sector. Other sectors that it has vowed to support include telecommunications, small and medium enterprises (SMEs), cocoa, and agric. Speaking to journalists in Accra, Kwasi Akaba, Managing Director of the bank, said Access guarantees its customers best in customer care and service delivery.

As a Ghanian who has lived and worked in Ghana all my life; I know our environment and I am determined to align the aims of the bank with the aspirations of our government, corporate citizens and individuals the Managing Director said. With an initial capital base far in excess of the GHc60n million requirement by the Bank of Ghana, Access Bank (Ghana) becomes the eight subsidiary of the Access Bank Group on the African continent and its present across all monetary zones in sub-saharan Africa including a full banking subsidiary in the United Kingdom.

In all investors traded 405.711 million shares valued at N2.908 billion in 4,780 deals, depicting a marginal decrease from the 411.182 million shares worth N3.488 billion transacted last Friday. The high transaction in the shares of Access Bank helped the banking sub-sector to sustain its dominance of the activity chart. The sub-sector recorded 341.263 million shares valued at N2.454 billon in 2,642 deals. First Bank of Nigeria Plc trailed behind Access Bank as the second most active in the sub-sector with 31.643 million shares valued at N461.919 million exchanged in 743 deals.
Access Bank plans fresh debt issue
Access Bank Plc is set to raise fresh debt once its current N13.5billion 3-year bond expires at the end of December 2009. Aigboje Aig-Imoukhuede, group managing director and chief executive officer of the bank said this last week through a telephone interview with media representives. According to him, Access Bank has a bond that is alive and as the bond is running off this year, we intend to issue a fresh. We intend to issue a new tranche to diversify our capital and funding structure.

He however gave no details on the volume of the planned issue. Access Bank is the third Nigerian bank to have announced plans in the past month to raise debt. Guaranty Trust Bank will seek approval for a N200 billion debt issue at an extraodiary general meeting an August 27, while First Bank Plc also want to raise a N500 billion bond.