Globaltimes 
Access Bank PLC Acquires Standard Chartered Bank Subsidiaries in Angola, Sierra Leone
Following its intent to acquire Standard Chartered Bank Limited, and its subsidiaries in Sierra Leone and Angola, Access Holdings PLC has completed the process of taking them over.
The parent body had given this hint in July 2023.
This statement was signed by the financial institution secretary, Mr. Sunday Ekwochi and sent through the Head of Media and Publ8c Relations of the bank, Mr. Olakunle Aderinokun to our newsdesk.
Commenting on the development, Mr. Roosevelt Ogbonna, who is the MD/CEO of Access Bank PLC and CEO of the Banking Group said the management was happy to announce the conclusion of the acquisitions of the banks in Angola and Sierra Leone.
He added that the acquisitions would strengthen the quality of the banks earnings and increase their markets share in both corporate and SME banking sectors.
While commending the broader vision of becoming the world’s most respected bank, Ogbonna said both parties are working on the completion of transactions to acquire its subsidiaries in Cameroon, the Gambia, and Tanzania.
Read below the Press release statement sent to our office the Head of Media and Public Relations of Access bank, Mr. Olakunle Aderinokun to our newsdesk.
Access Bank PLC Completes Acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited
Lagos Nigeria – November 27, 2024: 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, Roosevelt Ogbonna, the MD/CEO of 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.
SUNDAY EKWOCHI
COMPANY SECRETARY
