Corporate Social Responsibility Report 2008 As ... - Access Bank
Corporate Social Responsibility Report 2008 As ... - Access Bank
Corporate Social Responsibility Report 2008 As ... - Access Bank
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<strong>Corporate</strong> <strong>Social</strong> <strong>Responsibility</strong> <strong>Report</strong> <strong>2008</strong><br />
Arthur Arnold (CEO, FMO) - Centre, Aigboje Aig-Imoukhuede (GMD, <strong>Access</strong> <strong>Bank</strong> Plc) - 3rd right, Herbert Wigwe (GDMD, <strong>Access</strong> <strong>Bank</strong> Plc) -<br />
3rd Left, Roosevelt Ogbonna (Super Regional Head, CCBG, VI & Ikoyi, <strong>Access</strong> <strong>Bank</strong> Plc) and other Senior Management Staff of the FMO<br />
1 Provision of Trade Finance Line: The FMO<br />
provided a Trade Finance facility to support <strong>Access</strong><br />
<strong>Bank</strong>’s customers engaged in importation and<br />
exportation. This resulted in our <strong>Bank</strong> achieving a N1<br />
billion revenue mark in Trade Finance.<br />
2 Investment of Convertible Loan Stock: This was<br />
wholly converted to equity in <strong>Access</strong> <strong>Bank</strong> based on<br />
the confidence reposed in <strong>Access</strong> <strong>Bank</strong>’s management<br />
by the FMO. This also assisted <strong>Access</strong> <strong>Bank</strong> in meeting<br />
the Central <strong>Bank</strong> of Nigeria’s minimum capital<br />
requirement of N25 billion for banks operating in<br />
Nigeria in 2005.<br />
3 Capacity Building: <strong>As</strong> a means of building intellectual<br />
capacity, exposure and gaining expertise in Project<br />
Finance, FMO partnered with <strong>Access</strong> <strong>Bank</strong> to provide<br />
a one-year internship programme for <strong>Access</strong> <strong>Bank</strong> in<br />
strategic areas. <strong>Access</strong> <strong>Bank</strong> has benefited immensely<br />
from this initiative which has in no small measure<br />
contributed to manpower development in the <strong>Bank</strong>.<br />
4 Introduction to ING for Retail <strong>Bank</strong>ing Strategy:<br />
<strong>Access</strong> <strong>Bank</strong> has also benefited from the FMO’s<br />
network. For instance, the FMO introduced <strong>Access</strong><br />
<strong>Bank</strong> to ING, which has contributed in the<br />
deployment of the retail banking strategy of the <strong>Bank</strong>.<br />
5 Reserve Management Mandate: During the period<br />
when the Central <strong>Bank</strong> of Nigeria required Nigerian<br />
banks to collaborate with foreign banks in managing<br />
Nigeria’s external reserves, the FMO introduced <strong>Access</strong><br />
<strong>Bank</strong> to ABN-AMRO to provide a joint partnership in<br />
the management of Nigeria’s foreign reserve with<br />
<strong>Access</strong> <strong>Bank</strong>.<br />
6 Affordable Housing Scheme: FMO granted <strong>Access</strong><br />
<strong>Bank</strong> a facility to support the construction of<br />
affordable housing units and provide mortgage<br />
facilities to low and middle income earners to<br />
purchase houses.<br />
www.fmo.nl<br />
EQUATOR PRINCIPLES<br />
<strong>Access</strong> <strong>Bank</strong> Plc had adopted the Equator Principles for its<br />
project finance since 2007. However, the <strong>Bank</strong> did not<br />
formally initiate membership procedures as an Equator<br />
Principles Financial Institution (EPFI) until the <strong>2008</strong> FY.<br />
Through this, <strong>Access</strong> <strong>Bank</strong> becomes the first Nigerian <strong>Bank</strong><br />
to implement the Equator Principles.<br />
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