Access Bank Plc has completed the acquisition of Standard Chartered operations in Angola and Sierra Leone, enhancing its corporate and SME banking presence. CEO Roosevelt Ogbonna announced this strategic move, emphasizing its alignment with Access Bank’s vision to elevate its status in African banking. Additionally, further acquisitions in Cameroon, The Gambia, and Tanzania are underway to expand the bank’s portfolio.
Access Bank Plc has successfully completed the acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited. This announcement was made by Roosevelt Ogbonna, the Managing Director and Chief Executive Officer of Access Bank, via a notification to the Nigerian Exchange Limited in Lagos. Ogbonna expressed satisfaction regarding the acquisitions, stating that they will enhance the bank’s earnings quality while expanding corporate and SME banking operations in both Angola and Sierra Leone.
Access Bank’s acquisition of Standard Chartered’s operations in Angola and Sierra Leone marks a strategic expansion in its efforts to strengthen its presence in African banking. This move aligns with the bank’s vision of being recognized as the World’s Most Respected African Bank. Furthermore, Access Bank is currently in the process of finalizing transactions to acquire Standard Chartered’s subsidiaries in Cameroon, The Gambia, and its consumer, private, and business banking operations in Tanzania. This expansion will bolster Access Holdings’ extensive network across multiple continents.
In conclusion, Access Bank’s acquisition of Standard Chartered Bank in Angola and Sierra Leone is a significant step towards expanding its footprint in the African banking sector. The bank aims to leverage these acquisitions to enhance its service offerings in corporate and SME banking, reaffirming its commitment to becoming a leading player in the financial landscape. Access Holdings plans to keep stakeholders informed about further developments related to these transactions.
Original Source: thewillnews.com
