Access Bank concludes purchase of Standard Chartered in Angola, Sierra Leone
Further to our July 14, 2023, announcement regarding the above subject, Access Holdings PLC (‘Access Holdings’ or ‘the Company’) is pleased to announce that its flagship subsidiary, Access Bank PLC (‘Access Bank’ or ‘the Bank’) has completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited (‘the Acquisitions’).
Commenting on the completion milestone, Roosevelt Ogbonna, the MD/CEO of Access Bank PLC and CEO of the Banking Group, said:
“We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone, affording us synergies to strengthen the quality of our earnings from both countries by significantly growing our Corporate and SME banking share 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 completing transactions that would see Access Bank acquire Standard Chartered Bank’s subsidiaries in Cameroon and the Gambia and its Consumer, Private, and Business Banking business in Tanzania.
Access Holdings will continue to make disclosures whenever it’s needed.
Sunday Ekwochi
Company Secretary
November 27, 2024
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