Following the successful conclusion of its merger with Diamond Bank, Access Bank Plc said it now has the largest loan book in Nigeria’s banking industry, at over N3 trillion.

Mr. Victor Etuokwu, the bank's Executive Director, Retail Banking disclosed this yesterday in Abuja, at the Access Bank Business Workshop for Health Practitioners, noted that the bank has also emerged the largest lender to the small and medium enterprises (SMEs) sector.

He further stated that historically, Access and Diamond Banks were known to rank among the biggest lenders to SMEs in the country, adding that the merger had cemented the bank’s position as the biggest financiers of SMEs and other critical sectors of the economy.

He stated: “Today, Access Bank has the largest loan book in the industry, about N3 trillion. No other bank has that amount. With our merger with Diamond Bank, we have two banks today, who lend the most to SMEs. Diamond was a major lender to SMEs, same thing with Access Bank. Today, we are the bank that is truly the home for SMEs.”

Etuokwu called for increased support for the country’s health sector, while he added that the Federal Government needed to be prodded to invest more in health insurance.

“The health sector guarantees that people are able to even do business. It is a sector that tends to well-being. Any sector that tends to and drive well-being in Nigerians would do well. If you are not healthy, you cannot do business. Any sector that drives healthy conditions supports you to be well. This is a sector that we need to finance a lot more, needs to be a lot structured. We need to have a lot more health practitioners in the country.

“If you look at the ratio of health workers to population, it is very low. Effective demand for health, the ability to pay for health in the country is quite low. We need to drive government to invest a lot more in health insurance. Health insurance drives the health sector.”

https://www.vanguardngr.com/2019/04/merger-access-banks-loan-book-hits-n3trn/amp/

Humongous. .

Make we sha no hear stories that touch later o

It does not appear so.
Would be more inclined to believe the assertion if it came from an umpire or regulator

Good. Hope the loans are to those who needs them for their business and not politicians who don't pay back

Okies

Great

Biggest lender at double digits interest rate.

We are not impressed!!

Your high interest rate is stiffling the growth of the SMEs you claim you are lending to thereby pushing them into bankruptcy and receivership within 5years of launching.

Na wah o!

Hmm.

Loans wey una dey debit people money anyhow to recover??

Rubbish Bank...
If Access Bank remember you eh, you go just dey get inexplicable debit alerts..#50, #100, #65.. Till the funds are down.

NgeneUkwenu:


Abeg leave that for UBA. I have a Corperate Account i abandoned with a balance of 10K since 2012. Now the account is in a debit of 806 Naira.

Na only God go punish Nigerian banks.

Seriously, I don't know the exact work our Consumer Protection Council is actually doing in Nigeria.. Nothing seems to be truly regulated.

Do you notice that immediately the CBN quashed ATM charges sometime ago, these banks had to lower the amount of cash the ATM machine can dispense at a go??
Some can't dispense more than 10k once so if you're in need of 30k..na to withdraw 3x and you'll then be charged.
Lol..we're always finding avenues to circumvent rules here in Nigeria and its worse in the banking and telecoms sectors.

Access bank nke-iyi

12345baba:
Liars. Lenders to SMEs indeed! Nigerian banks kill and frustrate SMEs

Maybe your own SME no get better white paper.

Liars. Lenders to SMEs indeed! Nigerian banks kill and frustrate SMEs

How much of the 3 trillion are performing loans?
Loans diamond bank gave without collateral?

I think what they are trying to say is that they now have more receivables, it now depends whether it is substandard, doubtful or lost. Hehe

See effective management tips that will lead to success https://explicitsuccess.com/fleet-management-solutions/

They will still have the largest bad loan

Hope upto 80% of the loans are not bad loan

bestman09:
Good. Hope the loans are to those who needs them for their business and not politicians who doesn't pay back

"Not the politicians who doesn't pay"! Nigeria, your future is here! Bros wa, obviously you didn't encounter a good teacher of English grammar whilst in School! You could still attend Adult Classes during weekends just to put things right.

What is the health of that book?

What ratio is retail loans?

Josnac:
Loans wey una dey debit people money anyhow to recover??

Rubbish Bank...
If Access Bank remember you eh, you go just dey get inexplicable debit alerts..#50, #100, #65.. Till the funds are down.

Abeg leave that for UBA. I have a Corperate Account i abandoned with a balance of 10K since 2012. Now the account is in a debit of 806 Naira.

Na only God go punish Nigerian banks.

First Bank would soon buy both - access and diamond

Proffdada:
So why are they not giving interests on savings accounts instead they'll be deducting in the guise of maintenance fee and SMS alerts?
Even a small mortgage bank I used gives interest on savings which you'll see visibly.

Their wahala too much. It seems that's the only source of income for them with the seriousness they use in debiting your account. Multiply #50 by their millions of customers.

traeces:
It does not appear so.
Would be more inclined to believe the assertion if it came from an umpire or regulator

They are just saving faces....damage control. Diamond Bank in particular has been badly manage, so the fear of the sledge hammer of NDIC is the begining of wisdom....

Ok

Thats almost our annual budget.

Watch it dia

matify83:
Biggest lender at double digits interest rate.

We are not impressed!!

Your high interest rate is stiffling the growth of the SMEs you claim you are lending to thereby pushing them into bankruptcy and receivership within 5years of launching.

Not their fault.MPR cannot be at 13% and they lend at single digit