Access Bank, Customer Size, Value Capture and Lessons on Nigerian Stock Exchange
Today, the most aggressive banking institution when it comes to growth in Africa is Access Bank Plc Nigeria, the continent’s biggest bank by customer base. The bank is acquiring anything on its path as it scales its mission across the continent. Yet, despite the high octane activities, the bank has not returned superb values to investors. Using Nigeria as a case study, FCMB returned 80%, Zenith bank (33%) and UBA (21%); Access lost 16% of its value in 2020. In the Nigerian Stock Exchange, Access Bank is worth N325 billion; GTB remains the leader at N974 billion. UBA is priced…
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