The Access Bank UK, a wholly-owned subsidiary of Nigeria’s Access Bank, has opened a representative office at the Dubai International Financial Centre (DIFC), its first outpost in the Middle East.
The representative office licence limits the bank to offer marketing services only. According to a statement from the bank, the office in the DIFC will continue to serve the bank’s existing clients in the UAE as well as introducing the bank’s portfolio of services to companies keen on investing in Nigeria and other parts of Africa directly or through trade finance.
“The Access Bank UK is the largest Nigerian trade finance bank in the United Kingdom. We see growing trade flows between the UAE and Nigeria and some of the fast-growing Sub-Saharan African countries. Clearly, there are opportunities to expand our business in this fast-growing trade corridor,” says Herbert Wigwe, chairman of Access Bank UK.
Eisa Kazim, governor of DIFC comments: “The Access Bank’s decision to open a representative office at the Dubai International Financial Centre reflects our growing status as a platform to access emerging markets’ opportunities, and the potential of Dubai and the UAE as a whole to stimulate trade and investment along the south-south economic corridor.”