Access Bank acquires Standard Chartered in Angola, Sierra Leone

A flagship subsidiary of Access Holdings, Access Bank, says it has completed the acquisition of Standard Chartered Bank, in Angola, and in Sierra Leone.

Mr Roosevelt Ogbonna, Managing Director/Chief Executive Officer(CEO) of Access Bank Plc disclosed this in a notification sent to the Nigerian Exchange Ltd. (NGX) in Lagos on Wednesday.

Ogbonna said: “We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone.

“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 in the two markets.

“The combinations represent another significant step toward our broader vision of becoming the World’s Most Respected African Bank.

According to him, the parties are working on the completion of transactions that will see Access Bank acquire Standard Chartered Bank’s subsidiaries in Cameroon, the Gambia, and its consumer, private and Business Banking business in Tanzania.

Ogbonna noted that Access Holdings should continue to make disclosures as and when required.

Access Holdings operates through a network of more than 700 branches and service outlets, spanning three continents, 23 countries and over 60 million customers.