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As international banks are pulling out of the African continent, Access Bank Plc is strategically repositioning to take advantage of opportunities created by their exit in the market.
A major pointer to the agenda was recent revelation by the lender that it is considering selling dollar-denominated securities in the domestic market to fund its expansion plans and boost its capital base.
According to the Managing Director, Roosevelt Ogbonna, during a media parley in Lagos, the securities would be issued in two tranches. While one of the tranches would be targeted at Development Financial Institutions (DFIs), the other would be sold on the open market.
Last week, Access Holdings, through its commercial banking division, Access Bank, completed the process of taking ownership of the Angolan operations of Standard Chartered Bank (StanChart), a multinational lender based in Britain but operating from Africa, Asia and the Middle East.
