Access Bank

[hispy99]

Since they have refused to send me cert, at least they are spending my money opening branches left, right and center

Access Bank plans $200m expansion in Africa
24 September, 2008 02:00:00 Anonymous

Access Bank plans to spend $200 million to expand in Africa and is expected to list its Zambia subsidiary on the Lusaka Stock Exchange, senior bank officials said yesterday.

Access Group’s deputy managing director Herbert Wigwe said the bank planned expansions in Botswana, Uganda, Kenya and Tanzania before the end of next year.

"We went to the markets and raised some money which we will use for expansions in Africa. Our budget for the expansions is $200 million," Wigwe told journalists ahead of the official launch of the Access Bank in Zambia yesterday.

Access Bank Zambia’s managing director David Chewe told Reuters that the bank intended to list on the Lusaka Stock Exchange by 2012 and that it would open six branches this year and 10 more in 2009.

Access, one of Nigeria’s fastest-growing banks, has already spent $10 million on setting up in Zambia, and aims to spend another $26 million on new branches, Chewe said.

Access Bank Plc is listed on the Nigerian Stock Exchange (NSE) with a market capitalisation of $3 billion. Total Assets as at March 2008 were $8.9 billion with shareholders’ funds at $1.6 billion.

[dannynoko]

Originally Posted by hispy99

Since they have refused to send me cert, at least they are spending my money opening branches left, right and center

Access Bank plans $200m expansion in Africa
24 September, 2008 02:00:00 Anonymous

Access Bank plans to spend $200 million to expand in Africa and is expected to list its Zambia subsidiary on the Lusaka Stock Exchange, senior bank officials said yesterday.

Access Group’s deputy managing director Herbert Wigwe said the bank planned expansions in Botswana, Uganda, Kenya and Tanzania before the end of next year.

"We went to the markets and raised some money which we will use for expansions in Africa. Our budget for the expansions is $200 million," Wigwe told journalists ahead of the official launch of the Access Bank in Zambia yesterday.

Access Bank Zambia’s managing director David Chewe told Reuters that the bank intended to list on the Lusaka Stock Exchange by 2012 and that it would open six branches this year and 10 more in 2009.

Access, one of Nigeria’s fastest-growing banks, has already spent $10 million on setting up in Zambia, and aims to spend another $26 million on new branches, Chewe said.

Access Bank Plc is listed on the Nigerian Stock Exchange (NSE) with a market capitalisation of $3 billion. Total Assets as at March 2008 were $8.9 billion with shareholders’ funds at $1.6 billion.

Alright! they are using my money to expand, meanwhile I have not gotten my IPO allocation ccert or return money. I guess they don't care what happens to investors.

[knightofdelta]

The banks are not making it easy on investors at all. They know all the tricks in the books and well... it makes a lot of sense why they are not buying their own shares despite the legalization of share buybacks...

[Babs_O]

Originally Posted by dannynoko

Alright! they are using my money to expand, meanwhile I have not gotten my IPO allocation ccert or return money. I guess they don't care what happens to investors.

They are using witheld return money to do business. Till now my return money check is not ready, despite reporting to them this issue over 6 weeks ago. The only thing I have is certificate more than a year after IPO.

[threecrown]

Originally Posted by knightofdelta

The banks are not making it easy on investors at all. They know all the tricks in the books and well... it makes a lot of sense why they are not buying their own shares despite the legalization of share buybacks...

The banks don't ev anything to gain if they buy back there shares for now. They raised fund for a purpose - to invest. Only the intervention fund can help but the Nigerian factor will not let this see the light of day.

[chokit]

All this bad events happening in Nigerian market cannot happen anywhere but only in nigeria.Bros,it saddens me many times that these lossers in the position of power just do not care about the citizenry but only there pockets.

As per Access i have not received my cert nor return money what i got from them is the dividend warrants.This is sure not right,i know they plan what they are doing very well,as in some people have the cert no return money some have the dividend and no sign of cert nor return money or other wise.When are we going to doing things right in my own countary ?

It is a big shame where i live here to show yourself as a Nigerian !

[dannynoko]

Originally Posted by Babs_O

They are using witheld return money to do business. Till now my return money check is not ready, despite reporting to them this issue over 6 weeks ago. The only thing I have is certificate more than a year after IPO.

Babs_O, lucky you have atleast certificate. I don't have anything to show for my hard earned money and unfortunately my brokers are not helping me much on this. Emails are left hanging since am not around. Well God dey!

[zainabusman]

The dividend yield on Access bank on a forward basis is looking very attractive. In the offer prospectus, Access indicated they will pay 97k dividend in 2009. At current price that is a yield of 8.3%. Very attractive.

Access closed today at N11.74 getting close to the year low of N11.5. I have not bought anything for over a month. However, i am seriously thinking of putting some money in Access. My horizon is two years minimum.

Any thoughts?

[threecrown]

Originally Posted by zainabusman

The dividend yield on Access bank on a forward basis is looking very attractive. In the offer prospectus, Access indicated they will pay 97k dividend in 2009. At current price that is a yield of 8.3%. Very attractive.

Access closed today at N11.74 getting close to the year low of N11.5. I have not bought anything for over a month. However, i am seriously thinking of putting some money in Access. My horizon is two years minimum.

Any thoughts?

Thank you Zain,
I have been watching access shares with keen interest and hoping it gets below its lowest low of N11.50 before last intervention. With the current rate of decline, it will likely drop to N11.00 by the end of next week. That is my entry price.

[Michael]

Originally Posted by threecrown

Thank you Zain,
I have been watching access shares with keen interest and hoping it gets below its lowest low of N11.50 before last intervention. With the current rate of decline, it will likely drop to N11.00 by the end of next week. That is my entry price.

This may just be another broken promise

[zainabusman]

Originally Posted by Michael

This may just be another broken promise

Lets hope not. They kept their promise for the 2008 dividends.

[Dragon123]

Originally Posted by threecrown

Thank you Zain,
I have been watching access shares with keen interest and hoping it gets below its lowest low of N11.50 before last intervention. With the current rate of decline, it will likely drop to N11.00 by the end of next week. That is my entry price.

My fear is that when it gets that low, there may be no sellers. I doubt if those that bought at N14 PO will ever sell short.

[Yomik]

I was lucky to get my access verify today. I hate the way our system is working. They make me go through hell to get this done. I wish everyone good luck.

[edunko]

So yomik, Are u selling ??

[pegheneji]

Originally Posted by Dragon123

My fear is that when it gets that low, there may be no sellers. I doubt if those that bought at N14 PO will ever sell short.

Stock market investment is about risktaking, if those people that bought at anout N14 allowed it to N11.70, they can still allow it to fall even bellow N11 and still selling.. it is a function of liquidity but my advice is that if you rearly have d money and ready to leave it 4 about 2yrs why not entre now b/c you cannot rearly know the turning point of stock price since it can start rising tommorow consistently for the nest 2 wks.

[zainabusman]

Originally Posted by pegheneji

Stock market investment is about risktaking, if those people that bought at anout N14 allowed it to N11.70, they can still allow it to fall even bellow N11 and still selling.. it is a function of liquidity but my advice is that if you rearly have d money and ready to leave it 4 about 2yrs why not entre now b/c you cannot rearly know the turning point of stock price since it can start rising tommorow consistently for the nest 2 wks.

U are right no one knows the bottom. I plan to buy some tommorrow and then more next week. The dividend yield on Access is just too attractive to pass. To my knowledge, not much has changed about the fundamentals of Access Bank. If one has a long term view, this is the time to buy.