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    2019 ANNUAL REPORT & ACCOUNTS ACCESS BANK PLC 1 access more 2019 ANNUAL REPORT & ACCOUNTS 2 ACCESS BANK PLC MERGING CAPABILITIES FOR SUSTAINABLE GROWTH 2019 ANNUAL REPORT & ACCOUNTS ACCESS BANK PLC 3 1 OVERVIEWS .............08 10 • Business and Financial Highlights 12 • Locations and Offices 14 • Chairman’s Statement CONTENTS// 18 • Chief Executive Officer's Review 2 BUSINESS REVIEW.............22 24 • Corporate Philosophy 25 • Reports of the External Consultant 26 • Commercial Banking 30 • Business Banking 34 • Personal Banking 40 • Corporate and Investment Banking 44 • Transaction Services, Settlement Banking and IT 46 • Digital Banking 50 • Our People, Culture and Diversity 54 • Sustainability Report 74 • Risk Management Report 3 GOVERNANCE .............92 94 • The Board 106 • Directors, Officers & Professional Advisors 107 • Management Team 108 • Directors’ Report 116 • Corporate Governance Report 136 • Statement of Directors’ Responsibilities 138 • Report of the Statutory Audit Committee 140 • Customers’ Complaints & Feedback 144 • Whistleblowing Report 4 FINANCIAL STATEMENTS ............148 150 • Independent Auditor’s Report 156 • Consolidated Statement of Comprehensive Income 157 • Consolidated Statement of Financial Position 158 • Consolidated Statement of Changes in Equity 162 • Consolidated Statement of Cash Flows 164 • Notes to the Consolidated Financial Statements 203 • Other National Disclosures SHAREHOLDER 5 INFORMATION ............404 406 • Shareholder Engagement 408 • Notice of Annual General Meeting 412 • Explanatory
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  • Introduction Introduction Contents
    GTR Directory 2018-19 GTR Directory 2018-19 Contents London Forfaiting Company Ltd 159 Union Bank of Nigeria plc 232 The London Institute of Banking & Finance 160 Union Bank UK plc 235 Financial Institutions & Advisory Commonwealth Bank of Australia 82 Maersk Trade Finance A/S 161 United Overseas Bank Limited 235 The Co-operative Bank of Kenya Ltd 83 Abanca 10 Mashreq 162 United Bank for Africa 236 Coronation Merchant Bank 84 Absa 11 Mastercard 163 VTB Bank 238 Crédit Agricole Corporate and Investment Bank 86 Abu Dhabi Commercial Bank 12 The Mauritius Commercial Bank Limited 164 Wells Fargo 240 Credit Europe Bank NV 88 Abu Dhabi Islamic Bank 14 Mizuho Bank, Ltd. 166 Wilben Trade Limited 242 Credit Suisse (Switzerland) Ltd. 88 Access Bank plc 16 Maybank 168 Woodsford TradeBridge Ltd 242 Crown Agents Bank 89 Advantage Delaware LLC 18 MUFG Bank, Ltd. 169 Westpac Banking Corporation 244 DBS Bank 90 Africa Trade Finance Limited 19 National Bank of Fujairah PJSC 172 Wyelands Bank plc 246 Deutsche Bank 92 AfrAsia Bank 20 Natixis 173 XacBank 248 Deloitte 94 African Export Import Bank 22 NatWest 174 Yapı ve Kredi Bankası A.Ş 249 DF Deutsche Forfait GmbH 95 AIC Finanz GmbH 24 NIC Bank Kenya 175 Zürcher Kantonalbank 249 Diamond Bank plc 96 Al Ahli Bank of Kuwait K.S.C.P. 25 Nedbank CIB Johannesburg 176 Zenith Bank (UK) Limited 250 Introduction Diligence 97 Introduction Al Salam Bank Bahrain BSC 25 Nedbank CIB London 176 Zenith Bank (UK) Limited – (DIFC Branch) 250 DMCC 99 Akbank 26 Orbian Management Ltd 178 EBI SA Groupe 100 Akbank AG 27 ODDO BHF
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  • Assessing the Effects of Merger on the Performance of Access Bank Ghana and Intercontinental Bank Ghana
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  • And Access Bank
    Atlas Mara Limited, ABC Holdings Limited and Access Bank Plc sign share purchase agreement for the acquisition of 78.15% stake in African Banking Corporation of Botswana Limited Complementary transaction that combines Access Bank’s wholesale finance capabilities with BancABC Botswana’s strong retail banking operations Gaborone 19 April 2021 – Atlas Mara Limited (“Atlas Mara”), ABC Holdings Limited (“ABCH”) and Access Bank Plc (“Access Bank”) announced that they have entered into a definitive agreement regarding a proposed acquisition of 78.15% of the issued share capital of African Banking Corporation of Botswana Limited (“BancABC Botswana”) by Access Bank. The transaction is expected to conclude in the first half of 2021, subject to the fulfillment of various customary conditions precedent including certain regulatory requirements by the Bank of Botswana and consents from other relevant authorities and certain counterparties. Key highlights include: A complementary transaction that combines BancABC Botswana’s strong retail banking operation with Access Bank’s wholesale banking capabilities, providing significant scope for revenue diversification and growth in the corporate and SME banking segment. BancABC Botswana’s customers to benefit from best-in-class digital platforms and product suites, leveraging Access Bank’s group IT infrastructure. Commenting on the transaction, BancABC Botswana Managing Director Mr. Kgotso Bannalotlhe, said: “We are delighted to have Access Bank on board as a shareholder and strategic partner as we continue to execute on our medium-term growth objectives. This transaction represents an opportunity for BancABC Botswana to be part of one of the largest banking groups in Africa and benefit from Access Bank’s strong corporate banking franchise, digital banking capabilities, and innovative product offering, as well as trade finance and international banking that leverage Access Bank’s footprint across Southern Africa and the SSA region more broadly.
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  • Access Bank Plc ₦15 Billion 5 Year Fixed Rate Senior Unsecured Green Bond Due 2024 2020 Final Rating Report
    Access Bank Plc ₦15 billion 5 Year Fixed Rate Senior Unsecured Green Bond Due 2024 2020 Final Rating Report 2020 Bond Rating Access Bank Plc. ₦15 billion 5-Year Fixed Rate Senior Unsecured Green Bond Access Bank Plc ₦15 Billion Five Year Fixed Rate Senior Unsecured Green Bond Due 2024 ATING ATIONALE Rating Assigned: R R Agusto & Co hereby affirms the ‘Aa-’ rating of Access Bank Plc’s (“Access -Aa- Bank”, “the Bank” or “the Issuer”) ₦15 billion Five Year Fixed Rate Unsecured Green Bond Due 2024 (“the Bond” or “the Issue”). PricewaterhouseCoopers, a certified green bond verifier, has assessed the conformity of nominated Outlook: Stable projects with the pre-issuance requirements of the Climate Bond Standard Issue Date: 14 Feb 2019 (version 2.1) issued by the Climate Bond Initiative in 2017. Expiry Date: 31 Dec 2020 The rating is valid throughout the life of the The rating reflects the standalone ‘Aa-‘ credit rating of Access Bank Plc by instrument but will be subject to annual monitoring and review. Agusto & Co. Limited and the pari passu ranking of the Bond with other senior unsecured obligations of the Bank. Access Bank’s rating is Bond Tenor: Five years underpinned by its strong industry position following its merger with the erstwhile Diamond Bank Plc which was concluded in March 2019. The Issuer Industry: Banking has a good brand franchise, an experienced management team and adequate capitalisation levels. Offsetting these positive rating factors are a deterioration in the asset quality of the combined entity and sectoral Analysts: concentration in the loan book.
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