Best private bank: Access Bank Nigeria
During the review period, Access Bank Nigeria successfully scaled its comprehensive private banking proposition, deepening client relationships and delivering at scale. Private bank deposits at the bank have more than doubled since 2023, driven by new client acquisition, purposeful cross-sell and an enhanced product set.
The bank’s market strategy is clear and effective. Access leverages a broad international footprint across sub-Saharan Africa, the UK and Asia to provide seamless cross-border banking and global market access.
Through various strategic partnerships, Access can augment client experiences. Partnerships include luxury goods through Lux Afrique, chauffeured and self-drive experiences through Starr Luxury Cars, and private charter and premium flights through ValueJet.
The private banking product suite includes current and savings accounts with preferential rates and dedicated relationship management (RM), as well as domiciliary accounts for major foreign currencies.
On the credit side, solutions span principal-only and diaspora mortgages, time/term loans, vehicle finance and overdrafts. Access also provides investment and planning services through Access international investment services and estate planning solutions, alongside execution in Eurobonds, commercial paper, money-market instruments, FGN bonds and T-Bills.
Private banking clients also have access to exclusive cards that offer utility and status, such as dual currency cards, the Visa Infinite ‘Black Card’ and American Express Gold and Platinum.
Eight dedicated high-net-worth (HNW) teams, each led by an RM and supported by four relationship officers, combine advisory depth with disciplined coverage. Each officer has a portfolio of around 100 clients. Staff can access continuous professional development, including international programmes from Cambridge and Harvard, and leading certifications such as the CFA and CIMA, ensuring that bankers are financially astute, security conscious and client centred.
Cutting-edge digital platforms complete the offering: the mobile app enables direct communication with relationship managers, card management, transfers and digital wealth execution via Coronation Asset Management, as well as local stock purchase and sale.
Best investment manager – private credit: Coronation Asset Management
Coronation Asset Management stands out for combining strong alternatives penetration with disciplined execution and transparent client engagement. The Coronation Infrastructure Fund raised NGN8.8 billion in May 2024, the largest first‑series raise for an infrastructure fund in Nigeria in 2024.
Performance surpassed targets during the review period, with the portfolio generating a weighted average yield of 21.5%. The strategy is implemented via an actively managed, closed‑end debt fund that invests in the loans, securities and securitised debt instruments of infrastructure companies, projects or special purpose vehicles.
Risk management and governance are robust: an independent investment committee reviews investment memoranda from the Deal Execution team and guides allocations; a fund trustee oversees safeguarding of assets on behalf of unitholders.
The portfolio is anchored in long‑term assets with predictable cash flows, prioritises issuers with strong corporate governance and solid credit ratings, and diversifies across projects led by strong sponsors and proven operators.
Environmental, social and governance (ESG) is embedded in sector focus and credit assessment. Target sectors with strong impact include transport, real estate, utilities, social infrastructure, telecoms and energy, with appraisal metrics, such as the percentage of waste recycled, tonnes of CO2 saved per annum and job creation, promoting cleaner energy, emissions reduction and sustainable transport.
