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Nairaland Forum / Nairaland / General / Business / Merger: Access Bank’s Loan Book Hits N3 Trillion (18529 Views)
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Merger: Access Bank’s Loan Book Hits N3 Trillion by Onyemadonald(m): 7:34am On Apr 20, 2019 |
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/ 1 Like
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Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by daddytime(m): 7:37am On Apr 20, 2019 |
Humongous. . Make we sha no hear stories that touch later o 24 Likes |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by traeces(m): 7:38am On Apr 20, 2019 |
It does not appear so. Would be more inclined to believe the assertion if it came from an umpire or regulator 23 Likes 3 Shares |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by bestman09(m): 7:48am On Apr 20, 2019 |
Good. Hope the loans are to those who needs them for their business and not politicians who don't pay back 7 Likes 3 Shares |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by helinues: 7:49am On Apr 20, 2019 |
Okies |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Proffdada: 7:49am On Apr 20, 2019 |
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. 37 Likes 1 Share |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by whosayswot100(m): 7:49am On Apr 20, 2019 |
Great |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by matify83: 7:51am On Apr 20, 2019 |
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. 27 Likes 2 Shares |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by rapcy(m): 7:51am On Apr 20, 2019 |
Na wah o! |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Houseofglam7(f): 7:51am On Apr 20, 2019 |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by henrixx(m): 7:52am On Apr 20, 2019 |
Hmm. |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by davillian(m): 7:53am On Apr 20, 2019 |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Josnac(m): 7:53am On Apr 20, 2019 |
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: 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. 28 Likes 1 Share |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Nobody: 7:53am On Apr 20, 2019 |
Access bank nke-iyi 12345baba: Maybe your own SME no get better white paper. |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by 12345baba(m): 7:53am On Apr 20, 2019 |
Liars. Lenders to SMEs indeed! Nigerian banks kill and frustrate SMEs 6 Likes |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by mamatwiny(f): 7:54am On Apr 20, 2019 |
How much of the 3 trillion are performing loans? Loans diamond bank gave without collateral? 16 Likes |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Rilwayne001: 7:55am On Apr 20, 2019 |
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 3 Likes |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Ajibaba101(m): 7:55am On Apr 20, 2019 |
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Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by iHart(m): 7:57am On Apr 20, 2019 |
They will still have the largest bad loan |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by JubrinElSudan: 7:57am On Apr 20, 2019 |
Hope upto 80% of the loans are not bad loan 1 Like |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by ekestic1976(f): 7:58am On Apr 20, 2019 |
bestman09: "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. |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by chloride6: 7:59am On Apr 20, 2019 |
What is the health of that book? What ratio is retail loans? 1 Like |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by NgeneUkwenu(f): 8:00am On Apr 20, 2019 |
Josnac: 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. |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Amuocha: 8:01am On Apr 20, 2019 |
First Bank would soon buy both - access and diamond |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by deltateam: 8:03am On Apr 20, 2019 |
Proffdada: 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. 2 Likes |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Nobody: 8:04am On Apr 20, 2019 |
traeces: 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.... |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by Dottore: 8:06am On Apr 20, 2019 |
Ok |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by thisnaijaguy: 8:06am On Apr 20, 2019 |
Thats almost our annual budget. Watch it dia |
Re: Merger: Access Bank’s Loan Book Hits N3 Trillion by lanetrips: 8:12am On Apr 20, 2019 |
matify83: Not their fault.MPR cannot be at 13% and they lend at single digit 1 Like |
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