Access Bank completes acquisition of Standard Chartered Bank Angola, Sierra Leone

Access Holdings PLC has said 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 (‘the Acquisitions’).

Commenting on the completion milestone, Roosevelt Ogbonna, managingdirector/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 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.

Access Holdings shall continue to make disclosures as and when required, Sunday Ekwochi, company secretary said.