THUR NOV 28 2024-theGBJournal| Access Holdings Plc’s subsidiary, Access Bank Plc has successfully completed the strategic acquisition Standard Chartered Bank operations in Angola and Sierra Leone-Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited, Access Holdings Plc announced on Wednesday.
Access Holdings Plc which operates through a network of more than 700 branches and service outlets, spanning three continents, 23 countries and over 60 million customers, began the move to acquire the banks on July 14, 2023.
Roosevelt Ogbonna, MD/CEO of Access Bank PLC and CEO of the Banking Group expressed deep satisfaction on the completion of the acquisition process, while noting that the acquisition of the two banks will afford Access Bank Plc the synergies to strengthen the quality of its earnings from both countries by significantly growing its 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,” he added.
Access Holdings said 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.
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