Access Bank Plc has completed its acquisition of Standard Chartered Bank Angola and Sierra Leone. This move enhances its corporate and SME banking presence and aligns with its vision of becoming the most respected African bank. Access Bank is also set to acquire more subsidiaries in different countries.
Access Holdings Plc has formally declared that its subsidiary, Access Bank Plc, has successfully completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone) Limited. Roosevelt Ogbonna, the Managing Director and Chief Executive Officer of Access Bank Plc, expressed satisfaction regarding this significant achievement. Such acquisitions are anticipated to facilitate enhanced earnings quality and expand Access Bank’s presence in Corporate and SME banking sectors in both countries, thus aligning with their strategic objective of becoming the most respected African bank globally.
The acquisition marks a pivotal moment for Access Bank as it expands its footprint in the African financial sector. Access Bank has consistently pursued growth through strategic acquisitions to enhance its service offerings and market share. By acquiring subsidiaries of Standard Chartered Bank in Angola and Sierra Leone, Access Bank aims to strengthen its operational capabilities and cater to the increasing demand for corporate and small to medium enterprise banking services in these regions. This move also reflects a broader ambition of enhancing its status within the continent’s banking landscape.
In conclusion, the acquisition of Standard Chartered Bank’s subsidiaries in Angola and Sierra Leone represents a major strategic advancement for Access Bank Plc. This move aligns with Access Holdings Plc’s vision of elevating its market position, improving earnings quality, and expanding its influence in the African banking sector. Following this successful completion, Access Bank is also looking forward to further acquisitions in other African markets, enhancing its operational strength and service offerings.
Original Source: www.thisdaylive.com
