Access Bank has been driving its revenue growth through retail expansion, driven by a strong focus on consumer lending, payments and remittances, as well as customer acquisition at scale, writes
It is no secret that achieving revenue growth in an earnings-constrained and ever-increasing competitive environment remains a major challenge for traditional banks globally.
The situation was further worsened by the outbreak of the COVID-19 pandemic which has also led to an increased incursion by financial technology (fintech) players into the financial services segment.
According to a report by Deloitte, a global professional services firm, as the low interest rate regime and new regulations continue to strangle traditional sources of risk-based and fee income, many once-attractive customer relationships are generating less revenue, causing some to become unprofitable.
Focus
Access Bank has been driving its revenue growth through retail expansion, driven by a strong focus on consumer lending, payments and remittances, as well as customer acquisition at scale, writes Obinna Chima
It is no secret that achieving revenue growth in an earnings-constrained and ever-increasing competitive environment remains a major challenge for traditional banks globally.
The situation was further worsened by the outbreak of the COVID-19 pandemic which has also led to an increased incursion by financial technology (fintech) players into the financial services segment.
According to a report by Deloitte, a global professional services firm, as the low interest rate regime and new regulations continue to strangle traditional sources of risk-based and fee income, many once-attractive customer relationships are generating less revenue, causing some to become unprofitable.
Nigeria‘s PIB nears journey’s end [NGW Magazine]
Feb 18, 2021 7:15:am
Summary The Nigerian Petroleum Investment Bill is nearing enactment, but there are still differences between the states and the government over sharing the upstream bounty. [NGW Magazine Volume 6, Issue 4]
by: Omono Okonkwo
Over a decade after first mooted, the Petroleum Industry Bill (PIB) is set to become law this spring. The speaker of the lower chamber of Nigeria’s national assembly, Femi Gbajamiamila, said in January that “we intend to pass this bill by April. That is the commitment we have made. Some may call it a tall order, but we will do it and we will do it with every sense of responsibility without compromising the thoroughness of the work that will be done.”
• Senior lawyer denies allegations
Tobi Soniyi
Seplat Petroleum Development Company has asked the Legal Practitioners Privileges Committee (LPPC) and the Legal Practitioners Disciplinary Committee of the Nigerian Bar Association (NBA) to sanction a Senior Advocate of Nigeria, Mr. Kunle Ogunba, for alleged gross misconduct and unethical practices contrary to the Rules of Professional Conduct for Legal Practitioners 2007.
In the petition to the LPPC, which was equally copied to the Nigerian Bar Association (NBA) President, the company accused Ogunba of violating Rules 1, 15, 24, 30 and 32 of the Rules of Professional Conduct 2007 and urged sanctions against the senior advocate in line with paragraph 55 of the Rules of Professional Conduct.