Access Bank Alone Sees Brand Value Slip in Africa Amid Expansion Drive
Access Bank, Nigeria’s largest lender by assets, has seen its brand value decline this year amid an aggressive pan‑African expansion strategy.
An analysis of the latest report by global brand consultancy Brand Finance shows that Access Bank’s brand value fell by 3.9 percent to $538 million in 2026, from $559.2 million a year earlier. The lender posted a 17.8 percent growth in 2025.
Brand Finance, which uses the Royalty Relief methodology to estimate brand value based on future earnings potential, assessed 22 African banks for the period from February 2025 to February 2026.
Despite the decline, Access Bank retained its position as Nigeria’s most valuable banking brand, ahead of Zenith Bank at $380 million and Guaranty Trust Holding Company (GTCO) at $376 million.
“Access Bank’s rapid expansion via bolt-on acquisitions necessitates significant short-term outlays,” said Babatunde Odumeru, managing director at Brand Finance Nigeria. “Managing a disparate portfolio of brand architectures across diverse markets can temporarily dilute brand equity and strain capital efficiency as the group works to harmonise its global operations.”
Expansion strategy brings short-term pressure
The brand value decline comes amid heavy investment across multiple African markets.
Last April, Group CEO Roosevelt Ogbonna said the bank had invested about $1.2 billion across its subsidiaries as part of a long-term growth strategy.
“We are creating real value and long-term wealth through our subsidiary operations,” he said at the time.
Recent performance data highlight the transition. In the first half of 2025, Access Bank Nigeria recorded a 30.7 percent drop in after-tax profit—the steepest decline within the group—while subsidiaries in Ghana, the Democratic Republic of Congo, Rwanda and Zambia delivered strong growth.
Previously loss-making operations in Mozambique, Kenya and South Africa also returned to profitability, signalling improving traction in newer markets.
Nigeria still leads Africa’s banking brand growth
Access Bank’s setback contrasts with a broader surge in Nigerian banking brands, supported by the Central Bank of Nigeria’s ongoing recapitalisation programme.
Nigeria’s five largest lenders—Access Bank, GTCO, Zenith Bank, United Bank for Africa and FirstBank—posted a combined brand value of $1.8 billion, up 14.7 percent from $1.57 billion in 2025. That marks a sharp acceleration from the 5.37 percent growth recorded a year earlier.
In percentage-point terms, Nigerian banks delivered a 9.33-point increase in brand value growth—the highest on the continent.
Egyptian lenders, including National Bank of Egypt, Banque Misr and Commercial International Bank, ranked second with an 8.87 percentage-point increase. Banks in Kenya, South Africa and Morocco, by contrast, recorded negative growth, reflecting macroeconomic pressures in those markets.
