Access Bank UK Limited has announced the opening of its Hong Kong branch, operating as a restricted license bank. This milestone marks the bank’s entry into the Asia-Pacific market, underscoring its commitment to facilitating trade and financial services between Asia and Africa.
With this launch, Access Bank UK Limited becomes the first West African-owned banking group to establish a presence in Hong Kong, a strategic international financial hub. The bank’s management emphasized that Hong Kong’s position as a leading financial center offers a unique opportunity to enhance trade flows and connectivity between Africa and Asia, aligning with the bank’s international expansion strategy.
“Hong Kong’s position as a gateway to Asia makes it an ideal base for strengthening trade and financial ties with Africa,” stated Jamie Simmonds, Founding CEO and Managing Director of Access Bank UK Limited. “With Asia now Africa’s largest trading region, programs like the Belt and Road Initiative are driving record-breaking trade volumes. In 2023, China-Africa trade hit an all-time high of USD 282.1 billion, growing 1.5% year-on-year. Our Hong Kong branch’s timing is perfect to meet the growing financial needs in these expanding markets.”
Ernest Law, Managing Director and Chief Executive of the Hong Kong branch, expressed excitement about the branch’s role in advancing the bank’s strategic goals. “We are thrilled to have our Hong Kong branch as a key part of Access Bank UK Limited’s global growth. This new location will allow us to connect more closely with clients in Hong Kong and deliver customized financial solutions across the region.”
Ambassador Oludare E. Folowosele, Consul General of Nigeria’s Consulate in Hong Kong, celebrated the opening: “Today’s launch represents a major milestone in strengthening trade flows between Asia and Africa. As the first West African banking group to open in Hong Kong, Access Bank UK Limited is well-positioned to capitalize on the Belt and Road Initiative and foster business opportunities between China and Africa.”
The Hong Kong branch, led by Ernest Law, will focus on international trade finance and commercial banking to serve a rapidly growing client base. Initially, the branch will employ 25 people, with plans for further expansion.
As a wholly owned subsidiary of Access Holdings Plc., Access Bank has a robust footprint in Africa and Europe, with over 700 branches and service outlets, serving more than 60 million customers across 23 countries. Globally, Access Bank’s network includes offices in China, Lebanon, India, and the UAE, supporting a diverse clientele with digital banking, retail services, and corporate expertise.
Listed on the Nigerian Stock Exchange since 1998, Access Holdings Plc. is one of Africa’s premier financial institutions, known for its strong retail and corporate banking capabilities, risk management, and innovative capital solutions. Through its new Hong Kong branch, Access Bank UK Limited aims to further connect African and Asian markets, creating seamless pathways for growth and opportunity across continents.
