Access Bank PLC has announced the successful completion of its acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited.
The milestone was revealed in a statement issued on Wednesday, November 27, and obtained by “The Octopus News”. Signed by Sunday Ekwochi, Company Secretary of Access Bank PLC, the statement confirmed that the acquisitions are part of the bank’s strategic expansion plans.
“Further to the bank’s 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’),” the statement read.
Roosevelt Ogbonna, Managing Director/CEO of Access Bank PLC, celebrated the achievement, emphasizing the strategic value of the acquisitions. “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 sectors in these markets. These combinations represent another significant step towards our broader vision of becoming the World’s Most Respected African Bank,” he stated.
The bank further disclosed ongoing efforts to finalize transactions for the acquisition of Standard Chartered Bank’s subsidiaries in Cameroon, The Gambia, and its Consumer, Private, and Business Banking business in Tanzania.
Access Holdings assured stakeholders of timely updates regarding further developments in its expansion activities.
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