Access Bank logo | File image
By Valentine Amanze
Access Bank Plc (‘Access Bank’ or ‘the Bank’), one of Nigeria’s biggest financial institutions, has completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited (‘the Acquisitions’).
The parent company to the Nigeria’s outfit, Access Holdings Plc (‘Access Holdings’), made the disclosure in a statement the company secretary, Sunday Ekwochi,
issued at the weekend.
The Managing Director / Chief Executive Officer of Access Bank Plc and Chief Executive Officer of the Banking Group, Roosevelt Ogbonna, in the statement, expressed happiness over the latest acquisition.
His words: ‘We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone, affording us synergies to strengthen the quality of our earnings from both countries by significantly growing our share of the Corporate and SME banking in the two markets.
“The combinations represent another significant step towards our broader vision of becoming the world’s most respected African bank.
“The parties are working on the completion of transactions that would see Access Bank acquire Standard Chartered Bank’s subsidiaries in Cameroon, the Gambia and its Consumer, Private and Business Banking business in Tanzania.
“Access Holdings shall continue to make disclosures as and when required.”
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Access Holdings PLC (‘the Company’) operates through a network of more than 700 branches and service outlets, spanning three continents, 23 countries and over 60 million customers. The Company serves its various markets through four subsidiaries across the banking, payment, pension administration and insurance sectors through four operating companies, viz: Access Bank PLC, Hydrogen Payment Services Company Limited, Access Pensions Limited, and Access Insurance Brokers Limited.
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