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Access Bank drives growth with retail operations
Access Bank Plc has reiterated its commitment to helping the economy grow. For some time now, banks have been intensifying their efforts towards financial inclusion and meeting the needs of their retail customers. Daily, there is a new campaign promoting a reward scheme or product – an evidence of a structural shift in business models even as banks are adopting new strategies.
Access Bank’s Group Managing Director/CEO, Herbert Wigwe said the bank is also helping to lift the economy through its retail operations. He said the bank has changed from being primarily focused on wholesale – where they only had to work majorly with large or medium corporations – to retail banking, ensuring payments are seamless from top to bottom.
According to him, this shift by Access Bank to retail banking operations, has seen the bank increase its credit facilities options. The primary objective of retail banks is to be the one-stop-shop for financial services for its consumers. In line with this, Access Bank offers services such as current accounts, savings accounts, investments, personal loans and so on. Also, all of these services are fast and digitally led.
The bank’s retail innovation journey has led it to expand its digital loan offerings to other multi-tenured variants to fit the needs of its diverse retail customers. Between 2018 and 2019, Access Bank disbursed over N30 billion in loans to 1.5 million individual requests. This was made possible through the bank’s QuickBucks application, which basically houses all its quick loan products.
Wigwe also shared that the bank disburses an average of N200 million to 4,600 customers daily, having set a target of N400 million daily to at least 20,000 customers. On the QuickBucks application, users have access to PayDay Loan, Salary Advance, Small Ticket Personal Loan, and Device Financing. Outside of the app, customers can access mortgage loans, vehicle financing, Maternal Health Service Support, school fees advance, an auto loan, and creative sector loans.
It would seem quick lending loans are fast becoming the lifesavers in the retail banking sector. Salary earners who have accounts domiciled in Access Bank can access these loans in times of emergency, and simply have the money deducted from their accounts later. Considering the hassle of seeking loans elsewhere, these are no-collateral loans.
Across the industry, banks have become more aggressive with their attempts to maintain relevance in their retail market segment. As signs and research point towards retail banking being the future of the financial services industry globally, many banks are committing resources to research, capacity building, and the development of infrastructure in harnessing its vast consumer banking potential.
Prior to its merger with the defunct Diamond Bank, Access Bank had built a solid wholesale business with a strong treasury and was renowned for strong risk management. Diamond Bank had its strengths in micro-Small and Medium enterprises (SMEs) and individuals, with a strong digital institution of about 17 million customers.
Following the 2019 Access-Diamond merger, Access Bank became the largest bank in Nigeria by customer base and is continuously upgrading its systems to provide the same high level of service to its over 31 million customers post- merger.
Good for the economy
The growth of the financial sector plays a huge role in economic development. Countries with more developed financial systems grow faster over long periods of time. What this means is that financial development is not simply an outcome of economic growth; it contributes to this growth.
Across sub-Saharan Africa, mobile money has grown by 23 per cent in 2011, and 43 per cent in 2017. Around the world, people are calling the rise of digital banking in Africa within the last decade “the golden age of fintech”. At a time when Nigerians were finding it difficult to save or spend as a result of a recovering economy, Access Bank’s retail operations have proven to be vital in the positive upturn of financial transactions and the economy through its product and service offerings.
Access Bank’s retail offerings promote saving and investment among young Nigerians, as most of these products are digital, they target rural and semi-urban customers that were previously disenfranchised by traditional banking operations. Today, millions of customers conveniently send and receive funds on the bank’s digital platforms.These transactions, one way or another, have helped with the growth of small and medium-sized enterprises (SMEs) by providing access to finance.
Access Bank’s popular Unstructured Supplementary Service Data (USSD) code, *901#, has made it possible for people to access financial services using their mobile phone without internet service. Quite a number of these innovations accelerate economic growth by leapfrogging over bottlenecks. In sub-Saharan Africa, this mobile model has proven itself as a useful tool for enabling financial inclusion as a result of its low operating costs and banking fees – in comparison to traditional banking methods. Also, products like the QuickBucks app and AccessAfrica help accelerate financial inclusion, achieving scale across borders and documentation of the economy.
Access Bank’s creative sector loan, in partnership with the Central Bank of Nigeria (CBN), aims to build capacity and create employment for individuals and businesses. It is available to people in the fashion, information technology, movie production, and movie distribution industries. With this loan, creative entrepreneurs can buy equipment and materials, pay workers, and produce more efficiently.
In a statement, the bnk’s Executive Director, Retail Banking, Victor Etuokwu said: “Acquiring loans in Nigeria has always been known to be limiting – either due to access, collateral issues and the duration of the approval process. With our obligations to our customers, especially during difficult economic periods, we are emphasising Access Bank’s position in offering lifestyle products and services that meet their financial needs.”
Access Bank has been able to establish itself as a reliable bridge between individuals and corporate bodies looking to invest, those who need fast cash for business or personal reasons. By promoting economic growth through capital accumulation and technological progress – increasing the savings rate, producing information about investment, facilitating and encouraging the inflows of foreign capital, as well as optimising the allocation of capital – the bank is moving a step further by using its network, expertise, and experience to pull its weight in growing the economy.
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ZENITH BANK TO BRING GLOBAL TRADE LEADERS TOGETHER AT 10TH INTERNATIONAL TRADE SEMINAR ON NON-OIL EXPORTS
Zenith Bank Plc will host the 10th edition of its International Trade Seminar on Non-Oil Export on Tuesday, 25 August 2026, bringing together leading policymakers, regulators, exporters, manufacturers, investors and other key stakeholders to explore practical strategies for unlocking value and accelerating growth in Nigeria’s non-oil export sector.
Themed “Unlocking Value and Harnessing Growth in Non-Oil Export”, the virtual seminar will examine how Nigeria can move beyond exporting raw commodities to build globally competitive value chains, expand market access, strengthen trade infrastructure and financing, and deepen the contribution of non-oil exports to sustainable economic growth.
The high-level event will feature an impressive line-up of guest speakers, including the Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, H.E. Wamkele Mene; the Chief Executive Officer of Plot Enterprise Ghana Limited, Mrs Patricia Poku-Diaby; and the immediate past President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah.
The seminar will also convene leading voices from the public and private sectors in two panel discussions. The first panel, dedicated to public sector perspectives, will bring together key stakeholders driving Nigeria’s trade, export, investment and economic development agenda. It will feature the Managing Director/Chief Executive of the Nigerian Export-Import Bank (NEXIM Bank), Mr Abba Bello; the Comptroller-General of the Nigeria Customs Service, Mr Adewale Adeniyi; the Director, Trade and Exchange Department, Central Bank of Nigeria, Ms Aderinola Shonekan; the Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), Mrs Aisha Rimi; and the Executive Director/Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Mrs Nonye Ayeni.
The second panel, focused on private sector perspectives, will feature the Managing Director/Chief Executive Officer of Starlink Global & Ideal Limited, Alhaji Adeniji Adeyemi; the Group Executive Director, Dangote Group, Alhaji Sada Ladan-Baki; Senior Consultant at 3T Impex Trade Centre, Mr Bamidele Ayemibo; the Managing Director of Terra Aqua Environmental Consultancy Nigeria Limited, Alhaji Mobolaji Salako; the Managing Director/Chief Executive Officer of RMM Global, Mr Ramzi Taher; and the Managing Director/Chief Executive Officer of Lelook Nigeria Limited, Chief Mrs Chinwe Ezenwa.
The discussions will offer practical perspectives on trade facilitation, export financing, customs and port efficiency, regulation, market access, and the competitiveness of Nigerian businesses in regional and global markets.
A key focus of the seminar will be the African Continental Free Trade Area and its potential to open up a larger market for Nigerian goods and services while deepening intra-African trade. With the AfCFTA offering businesses access to a market of more than one billion people, the discussions will examine how Nigerian enterprises can leverage regional integration, build competitive value chains and seize emerging opportunities across the continent.
Zenith Bank has consistently championed conversations around trade and economic development. It remains at the forefront of efforts to support businesses seeking to participate more effectively in regional and international commerce. The Bank has also partnered with the AfCFTA Secretariat on initiatives to facilitate cross-border trade and expand access to opportunities across Africa.
Now in its 10th edition, the Zenith Bank International Trade Seminar has evolved into a leading platform for high-level dialogue on Nigeria’s trade and export ecosystem. Over the years, the seminar has brought together government, regulators, businesses, financial institutions, and other stakeholders to examine emerging trends, identify challenges, and proffer practical solutions to strengthen Nigeria’s position in global commerce.
The 2026 edition will build on this legacy, convening some of the most influential voices shaping Nigeria’s trade, investment and economic landscape around one critical question: how can Nigeria unlock greater value from its non-oil exports and translate its vast productive potential into sustainable economic growth?
The seminar will be held virtually and streamed live on Zoom, YouTube, Instagram, Facebook, X, and TikTok, enabling participants in Nigeria and around the world to join the conversation. Interested participants can register at www.zenithbank.com/exportsem
Sterling Financial Holdings Company Plc (“St Financial” or “the Group”) today released its unaudited results for the half-year ended 30 June 2026, posting broad-based growth across key performance indices.
The Group’s gross earnings rose 31.5% to ₦279.6 billion over the corresponding period in 2025, led by a 33.7% jump in interest income to ₦223.6 billion as the loan book expanded and asset yields improved. Net interest income climbed 41.0% to ₦137.4 billion, while non-interest income grew by 23.3% to ₦56.0 billion, supported by notable increases in fee income and other operating income lines.
Sterling Financial continued to strengthen its balance sheet with total assets expanding by 19.3% to ₦4.67 trillion, supported by a 21.1% growth in customer deposits to ₦3.62 trillion and disciplined expansion in the loan portfolio. The Group’s profit before tax (PBT) rose 21.9% to ₦55.5 billion while profit after tax (PAT) rose 20.4% to ₦50.3 billion.
Return on average equity stood at 20.6% and return on average assets improved to 2.35% from 2.05%.
Sterling Financial’s shareholders’ funds increased 27.8% to ₦547.7 billion in the period under review, primarily reflecting the ₦96.6 billion raised through a public offer of 13.8 billion ordinary shares. The Group’s share price has also appreciated over 15% from its year-opening position, reflecting renewed investor interest in the franchise ahead of the results release. Basic earnings per share stood at 77 kobo, reflecting the enlarged share base following the public offer.
The Group’s performance is anchored by its ongoing modernisation of its technology stack and operating model across its commercial (Sterling Bank), non-interest (AltBank), and wealth management (SterlingFI) arms. That work is showing up in faster service turnaround, tighter unit economics, and greater headroom to absorb rising customer activity without loosening the Group’s risk posture.
The combination of a reinforced capital base, expanding deposit franchise, and broader earnings mix leaves Sterling Financial positioned to compound growth in the second half of the year, channelling capital where it earns most and continuing to lend into the real economy.
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ZENITH BANK NAMED AFRICA’S BEST BANK & NIGERIA’S BEST BANK AT THE 2026 EUROMONEY AWARDS FOR EXCELLENCE
Zenith Bank Plc has been named “Africa’s Best Bank” and “Nigeria’s Best Bank”, the latter for the second consecutive year, at the prestigious Euromoney Awards for Excellence 2026, clinching the biggest and most coveted national and continental awards in banking. The awards were presented to the Bank on Thursday, 16 July 2026, at The Peninsula London Hotel, London. This dual recognition is a testament to the Bank’s sustained excellence in financial performance, customer service, digital innovation, and its contribution to economic development across Nigeria and the wider African continent.
The Euromoney Awards for Excellence are among the most respected in the global financial industry, evaluating banks on criteria including strategy, profitability, risk management, digital transformation and impact on stakeholders. Victory at the awards is regarded as a mark of the highest distinction in global banking. This year’s edition attracted a record of over 770 entries from world-class financial institutions including HSBC, Morgan Stanley, Citibank, Barclays, Standard Bank and DBS Bank of Singapore.
Commenting on the awards, the Group Managing Director/CEO of Zenith Bank Plc, Dame Dr. AdaoraUmeoji, OON, said, “We are deeply honoured by theserecognitions from Euromoney. Being recognised as Africa’s Best Bank and Nigeria’s Best Bank reflects the trust of our customers, the dedication of our unicorn workforce, and our unwavering commitment to building a truly African global financial institution. These awards inspire us to do even more to deliver superior value, drive financial inclusion, and support the growth of businesses across Africa.”
The GMD commended the regulators across the various jurisdictions where the Bank has footprints for the enabling regulatory environment which has supported the Bank in achieving this feat.
She dedicated the award to the Founder of Zenith Bank Plc, Jim Ovia, CFR, thanking him for his vision and excellence which have been instrumental to the Bank’s success.
Zenith Bank has continued to deliver strong financial results while accelerating investments in technology, artificial intelligence, and digital banking solutions. In the 2025 financial year, the Bank grew gross earnings by six per cent year on year to ₦4.19 trillion and delivered profit after tax of ₦1.04 trillion, while reducing its non-performing loan ratio from 4.7 per cent to 3.8 per cent. In keeping with its dividend policy, Zenith Bank rewarded its investors with a record-breaking total dividend of N10.00 per share (totaling N410.69 billion) for the 2025 financial year. This represents a 100% increase over N5.00 per share paid in 2024. The Bank has also deepened its pan-African presence and expanded trade and transaction banking capabilities to connect businesses across key markets.
Euromoney is the leading authority for global banking and financial markets, and this latest recognition adds to Zenith Bank’s growing list of local and international accolades, and further cements its position as one of Africa’s leading financial institutions.
The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the seventeenth consecutive year in the 2026 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the EuromoneyAwards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022, and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.Further recognitions include Best Commercial Bank, Nigeria for six consecutive years from 2021 to 2026 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023, 2024 and 2026 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for five consecutive years from 2022 to 2026 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
The Bank’s commitment to excellence led to Zenith being also named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.
Zenith Bank has also earned several non-financial awards, including Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024.
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