Access Bank Acquires Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited

Access Bank PLC has announced the completion of acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited

This was contained in a statement Jointly signed and issued by the Bank’s Company Secretary, Sunday Ekwochi and  Head, Media and Public Relations, Olakunle Aderinokun, and made available to the media on Wednesday.

According to the statement “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 in the statement, Roosevelt Ogbonna, the Managing Director/ Chief Executive Officer, Access Bank PLC and CEO of the Banking Group said: “We are pleased to have successfully concluded 2 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,” the statement stated.