Access Bank completes acquisition of Standard Chartered Bank in Angola, Sierra Leone
Access Bank Plc has announced to investing public the complete acquisition of Standard Chartered Bank Angola S.A ad Standard Chartered Bank (Sierra Leone] Limited.
The Company Secretary, Access Holdings Plc, Mr. Sunday Ekwochi in statement on Wednesday said, “Further to our July 14, 2023 announcement regarding the above subject, Access Holdings Plc announced that its flagship subsidiary, Access Bank Plc has completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited.”
Commenting on the completion milestone, the MD/CEO of Access Bank and CEO of the Banking Group, Roosevelt Ogbonna in a statement said, “We are pleased to have successfully concluded 2 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 Worlds 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.
