After Beating CBN Capital Requirements, Access Bank Set to Enter Moroccan Market [Video]

• Access Bank, one of Nigeria’s largest banks by assets, has announced plans to set up operations in Morocco
• The development comes after the bank successfully raised about $228 million in capital, surpassing CBN’s minimum capital requirement
• Access Bank’s planned expansion will position it for growth in Africa and Europe in the coming years

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

One of Nigeria’s largest banks by assets, Access Bank, has reportedly announced plans to set up operations in Morocco as part of its pan-African expansion.

The development comes as the bank became the first bank in Nigeria to surpass the Central Bank of Nigeria (CBN) capital requirement target, raising $228 million in a rights issue of 17.8 billion ordinary shares.

Access Bank seeks to dominate the African market

According to reports, the capital raise has put Access Bank’s …