Access Bank Completes Acquisition of Zambian African Banking Corporation – THISDAYLIVE

Access Holdings Plc has announced that it has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of Access Bank Zambia Limited, and African Banking Corporation Zambia Limited into its existing operations.The bank disclosed this in a statement at the weekend, signed by its Company Secretary, Sunday Ekwochi.

It stated: “Further to its announcement on October 25, 2021, Access Holdings Plc is pleased to announce that Access Bank Zambia Limited , a subsidiary of its flagship subsidiary, Access Bank Plc, has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of African Banking Corporation Zambia Limited into its existing operations.

“The Central Bank of Nigeria and Common Market for Eastern and Southern Africa Competition Commission had earlier granted their “no objection” to the Transaction in 2022. Access Zambia will now move towards integrating and merging Atlas Mara Zambia into its operations, which is expected to create one of the top five banks in Zambia.”

Commenting on the transaction, Group Chief Executive Access Holdings, Dr. Herbert Wigwe, said: “The transaction builds on our earlier acquisition and merger of Cavmont Bank Plc into Access Bank Zambia and underscores our resolve to strengthen our presence in Zambia, a key African market that fits into our strategic focus on geographic earnings growth and diversification.

“The combination of the two banks will create significant synergies between Access Zambia’s world class wholesale and transaction banking capabilities and Atlas Mara Zambia’s market leading retail and public sector capabilities to form a market leading universal banking platform that will greatly impact the Zambia market.”Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Access Bank Zambia Gets Regulatory Approval For African Banking Corporation AcquisitionAccess Holdings Plc has announced that Access Bank Zambia Limited, a subsidiary of its flagship subsidiary, Access Bank Plc, has received final regulatory
Sumber: LeadershipNGA - 🏆 4. / 77 Baca lebih lajut »

Orjiako defends action in Mobil acquisition ealThe Pioneer Chairman and Co-founder of Seplat Energy PLC, Dr. ABC Orjiako, has denied any wrongdoing in the letter he initiated to the Federal Government to facilitate the consummation of the lingering $1.3 billion Mobil sales deal, saying he acted within the scope of his mandate for the benefit of the company. He made the clarification in Abuja yesterday in a statement by his legal adviser, Senator Ikechukwu Obiorah, stressing that the company was already benefiting from the values created by the letter to the Presidency.
Sumber: GuardianNigeria - 🏆 1. / 94 Baca lebih lajut »