Access Bank Plc has successfully completed the acquisition of Standard Chartered Bank’s subsidiaries in Angola and Sierra Leone.
The success, initially announced on July 14, 2023, was confirmed in a regulatory filing submitted to the Nigerian Exchange Limited (NGX) on Wednesday.
Speaking on the development, Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, expressed enthusiasm about the strategic acquisitions.
“We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone,” Ogbonna stated. “This affords us synergies to strengthen the quality of our earnings from both countries by significantly growing our share of the Corporate and SME banking markets in these regions.”
Ogbonna highlighted that the acquisitions align with the bank’s broader vision of becoming “the World’s Most Respected African Bank.”
The bank also disclosed ongoing transactions to acquire Standard Chartered Bank’s operations in Cameroon, The Gambia, and its consumer, private, and business banking segments in Tanzania. These expansions are part of Access Bank’s ambitious drive to strengthen its foothold across Africa.
Access Holdings, the parent company of Access Bank, continues to operate a vast network of over 700 branches and service outlets, serving more than 60 million customers across 23 countries on three continents.
Ogbonna assured stakeholders that the company remains committed to providing timely updates on its growth and acquisition activities.
The acquisitions bolster Access Bank’s position as a leading financial institution in Africa, enhancing its capacity to deliver innovative banking solutions to corporate and SME clients in emerging markets. With the addition of these subsidiaries, Access Bank aims to solidify its reputation as a key player in driving economic growth across the continent.
The completion of these transactions’ undderline Access Bank’s dedication to its mission of fostering sustainable banking practices while expanding its reach and influence across Africa and beyond.
