Having commenced operations on May 23rd, 2022, with one business office in Akwa, Access Bank Cameroon has continued investing in its expansion within the country. The Bank opened its second branch in Bonamoussadi in August 2023 and is about to launch a third branch in Yaoundé before the end of the year 2023. This expansion drive shows the Bank’s commitment to the Cameroonian market.
Access Bank Cameroon has also demonstrated its resilience as it recorded a remarkable triple-digit growth of 226 per cent in its deposits having grown from XAF21.6 billion reported in December 2022 to XAF72 billion in October 2023 according to the Bank’s monthly balance sheet report for the month of October 2023 (see below).
This performance demonstrates the Bank’s strength and robust market share despite a very challenging macroeconomic environment.
Access Bank Cameroon believes a national footprint will benefit its customers. This can be seen through the universal Bank’s expansion plan in key cities across the country.
As part of the Bank’s expansion plan, Access Bank Plc and Standard Chartered Bank have entered into agreements for the acquisition of Standard Chartered’s shareholding in its subsidiaries in Angola, Cameroon, The Gambia, Sierra Leone, and its Consumer, Private, and Business Banking in Tanzania.
With the ongoing acquisition of Standard Chartered Bank (SCB) in Cameroon, Access Bank Plc is setting the stage for an abundance of opportunities that will directly benefit its customers.
Whilst Access Bank has had a presence in Cameroon for over 1 year, this acquisition marks a significant milestone, as it adds to its already impressive network of subsidiaries in 14 African Countries and international presence in the United Kingdom, UAE, China, Lebanon, France and India.
This move is key to the Bank’s journey towards supporting financial inclusion and building a strong global franchise focused on serving as a gateway and support for investment, and trade within Africa on the one hand, and between Africa and the rest of the world. This dynamic ecosystem of local and international partnerships will enable the bank to deliver a seamless and efficient global payments and remittance service to its over 60 million customers.