Project detail - Access Bank

Access Bank

Status: Approved investment
Back to map

Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at disclosure@fmo.nl

Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Access Bank Plc (“AB”) is a full-service commercial bank operating through a network of more than 700 branches and service outlets located in major centers across three continents. Apart from the Nigerian operations, the bank has 11 subsidiaries in Africa, one in the UK (with a branch in Dubai, UAE) and three representative offices: China, India and Lebanon. Access Bank Plc is listed on the Nigerian Stock Exchange since 1998 and provides a wide range of banking and financial services via four main business segments: Corporate & Investment banking, Commercial Banking, Business Banking and Personal Banking.

What is our funding objective?

The proceeds of the loan will be used by AB to finance Nigerian Women entrepreneurs and Green & Climate Projects

Why do we fund this investment?

FMO continues to support Access Bank along the mutual strategy of sustainable commercial development through financing corporates and MSMEs in Nigeria’s real economy thereby enabling those companies to invest in their businesses, create jobs and contribute to the overall sustainable economic development and growth. This facility will be dedicated to (1) reducing inequality by supporting Nigerian Women entrepreneurs and (2) supporting Green & Climate Projects.

What is the Environmental and Social categorization rationale?

Access Bank Plc is an existing client of FMO. The bank is classified as E&S Category A in accordance with FMO’s Policy. The clients in Access Bank’s portfolio are active in sectors which have potential significant and adverse environmental and social impacts, such as oil & gas, agriculture and construction. Examples of environmental and social challenges the bank is addressing in its portfolio are occupational health & safety, poor working conditions, affected communities, vandalism of pipelines, and waste management. Access Bank has a team of environmental & social experts within the bank that work with the bank’s clients to mitigate the negative impacts of their activities. Access Bank is a signatory of the Equator Principles. In the last few years, the bank received a number of national and international sustainable banking awards. This is a clear recognition from external stakeholders that Access Bank is performing above sector average on environmental & social risk management. As part of the agreement with Access Bank, the bank will be required to apply the EDFI Exclusion List, local E&S laws and regulations (including the Nigerian Sustainable Banking Principles) and the IFC Performance Standards Framework for certain identified projects. In addition, there is an E&S Action Plan agreed.

More investments

Date Total FMO financing
7/12/2024 USD 90.00 MLN
7/23/2020 USD 55.00 MLN
3/7/2024 USD 30.00 MLN
1/12/2023 USD 38.00 MLN
10/29/2019 USD 30.00 MLN
Region
Africa
Country
Nigeria
Sector
Financial Institutions
Publication date
1/18/2023
Effective date
12/9/2021
Total FMO financing
USD 45.00 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
A