Access Bank AUM hits 200% growth

Access Bank UK Limited, the wholly-owned subsidiary of Access Bank Plc, has declared that its Assets Under Management, AUM, in the private banking and asset management business has increased by over 200 percent to US$18.5 million by the end of 2012.

The bank, in a statement, said AUM had continued to grow and now stand at US$66 million.

According to the statement, “the increase in AUM has been driven by the ability of Access Bank UK to deepen its client relationships by expanding its product portfolio to its clients beyond its traditional focus on banking and asset management services.

“Buy-to-let property loans, investor visa and discretionary portfolio lending provide new routes for customers to access hard currency outside of Africa.

“The bank provides private banking services to African/Nigerian Ultra High Net Worth Individuals, UHNWIs, in the UK and sub-Saharan Africa.

“Services provided include traditional private banking services, property and discretionary portfolio lending.”

The statement said the number of customers had grown since the launch of the Private Bank in 2009.

[Vanguard]

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