Access Bank UK Limited has opened its Hong Kong branch (a restricted licence bank), representing a key milestone in the bank’s global growth strategy and underscoring its commitment to serve clients in the Asia-Pacific region.
The launch of the Hong Kong branch established The Access Bank UK Limited as the first West African bank to enter the territory, a groundbreaking move to facilitate and accelerate trade flows between Asia and Africa.
As a leading international financial centre and gateway to Asia, Hong Kong is ideally positioned to become a strategic hub, strengthening trade and connectivity between the region and Africa. Through our presence in Hong Kong, The Access Bank UK Limited will capitalise on the expanding economic partnership between Asia and Africa, supporting the increasing trade flow between these regions.
The Hong Kong branch is pivotal in the bank’s international expansion and signifies a major achievement as the first West African bank to establish a presence there
With the parent company’s continued growth across Africa, the resilience of the Nigerian economy, and long-standing trade ties, Hong Kong serves as the ideal gateway for trade between Asia and Africa.
Ambassador Oludare E. Folowosele, Nigeria Consul General in Hong Kong said, “I am delighted to celebrate today the opening of a Restricted Licence Bank in Hong Kong in the name of The Access Bank UK Limited. This is a huge milestone in trade flows between Asia and Africa as the first West African banking group to attain this status. This also aligns perfectly well with the Belt and Road initiatives between China and Africa where we see growing potential for business flows between the two countries.”
Jamie Simmonds, Founding Managing Director of The Access Bank UK Limited, expressed his commitment to this strategic initiative, saying, “In recent years, Asia has emerged as Africa’s largest trading region driven by programs like the Belt and Road Initiative. In 2023, China-Africa trade reached an all-time high of USD 282.1 billion, reflecting a 1.5 per cent year-on-year growth. As Asia-Africa economic relations enter a new phase, the timing of our Hong Kong branch launch is ideal to meet clients’ financing and banking needs in the expanding markets.”
Ernest Law, Managing Director of The Access Bank UK Limited – Hong Kong Branch, said “We are delighted to establish the Hong Kong branch as a key element of The Access Bank UK Limited’s ongoing growth and international expansion strategy. This new branch will enable us to engage more closely with our clients in Hong Kong and strengthen our capacity to provide tailored financial solutions across the region.”
The Access Bank UK Limited – Hong Kong Branch, headed by Ernest Law, will focus on international trade finance and commercial banking. The Hong Kong branch is expected to initially employ circa 25 people however this will grow with controlled expansion over time.
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