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Published On: Sun, Oct 5th, 2014

Access Bank urges shareholders to maximize stake via right

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Access_BankFrom Ngozi Onyeakusi, Lagos

As the Access Bank offer draws nearer, shareholders of the bank have been advised to take advantage of the forthcoming right issue to maximize their stake in the bank.

The General Manager, Access Bank, Seyi Kumapayi who made the call yesterday in Lagos during an interactive session with the media in view of the offer described the offer as a veritable tool for which will assist the shareholders of the bank to increase their stake in the bank.

The bank will be offering for subscription N68 billion by way of right to its existing shareholders, an offer, he described as relatively affordable.

He assured that the with Nigerian population at the excess of 170 million, its 366 branches, over one thousand Automated Teller machines (ATMs) and 11,846 point of sale (POS) scattered all over the country and beyond , Access Bank is poised to make huge return on investment made through the proceed of the offer.

Kumapayi highlighted strong returns on investments, strong financial indicators, enlarged resources base with strong upside potentials, credible leadership as attributes that makes it one of the best banks to invest in.

He further stated that the proceed of the offer, which he said will be judiciously utilized will be diverted to branch expansion and innovation. Other areas include improvement of working capital IT and system upgrade among others.


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