‘By launching in Malta, we will gain a foothold in a market that bridges European and North African economies’

The Access Bank UK Limited has launched a Maltese branch, The Access Bank Malta Limited, making it its first fully owned European subsidiary of the bank.

The milestone follows the approval of its banking licence by the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).

“It represents a strategic step in enhancing trade flows and fostering economic collaboration between Europe and Africa,” the bank said.

Roosevelt Ogbonna, Managing Director and CEO of Access Bank plc and CEO of the Nigerian banking group stated that by establishing operations in Malta, the bank has gained a foothold in a market that bridges European and North African economies.

This means, “moving us one step closer to our goal of becoming Africa’s gateway to the world. It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” he continued.

Echoing his thoughts, the Founding CEO and Managing Director of The Access Bank UK, Jamie Simmonds said that Europe has become Africa’s leading trading partner, supported by initiatives like the Economic Partnership Agreements and the African Continental Free Trade Area (AfCFTA).

“With these evolving dynamics, The Access Bank Malta Limited is uniquely positioned to meet the financing and banking needs of businesses operating across these markets,” Mr Simmonds said.

Renald Theuma, Managing Director and CEO of the Malta branch emphasised that the Malta-based bank will engage more closely with customers in Europe and “deliver tailored financial solutions that drive growth and connectivity across both continents.”

Access Bank, a wholly owned subsidiary of Access Holdings plc, is a leading full-service commercial bank that operates more than 700 branches across three continents, 22 countries and has over 60 million customers. One of Africa’s largest banks, it has operations across the continent, as well as in the UK and Europe, with representative offices in China, Lebanon, India and the United Arab Emirates.

It is a diversified financial institution combined with a customer franchise and digital banking expertise with risk management and capital management capabilities.