Access Holdings PLC has 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.
Roosevelt Ogbonna, the MD/CEO of Access Bank PLC and CEO of the Banking Group, has commented on the acquisition of the banks
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Ogbonna said: “We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone, affording us synergise 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.
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