Following the completion of all regulatory procedures, Grobank Limited has been officially renamed Access Bank South Africa Limited.
The deal was finalised after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa. With this new development, Access Bank said its South Africa subsidiary is positioned to deliver a robust banking operation that connects key African markets. Top executives of the two banks were upbeat about new opportunities for clients, noting that the Bank will continue to support all its stakeholders, while opening doors to growth opportunities both in the short and long term.
Chief executive of the former Grobank, Bennie van Rooy said, “This is an extremely exciting day for the South African banking industry. Our corporate customers will now have increased access to trade finance, treasury, international payments and loans through the wider distribution network offered by Ac- cess Bank’s presence in the key trade corridors that connect Africa to the rest of the world.
Congratulations to Access Bank!