Access Bank Plc has successfully acquired Standard Chartered Bank in Angola and Sierra Leone, as announced by CEO Roosevelt Ogbonna. This strategic acquisition aims to bolster the Bank’s earnings and enhance its market share in Corporate and SME banking within these countries. Access Bank is also pursuing additional acquisitions in the region, reinforcing its commitment to becoming a leading African financial institution.
Access Bank Plc has officially completed the acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited. This information was communicated by the Bank’s Managing Director and Chief Executive Officer, Mr. Roosevelt Ogbonna, in a statement to the Nigerian Exchange Ltd in Lagos. Mr. Ogbonna expressed satisfaction with the successful conclusion of these acquisitions, which are expected to enhance the Bank’s earnings quality and expand its Corporate and SME banking segments in both countries, facilitating greater market share and operational synergy.
The recent acquisition by Access Bank is a strategic move aimed at strengthening its presence in Africa and expanding its banking operations in Angola and Sierra Leone. This endeavor is a part of Access Bank’s larger objective of establishing itself as a leading financial institution across the continent and improving service delivery to its diverse customer base. With over 700 branches and service outlets in 23 countries, Access Bank is committed to growing its footprint in the African banking sector and enhancing the financial services landscape.
In conclusion, Access Bank’s acquisition of Standard Chartered Bank’s operations in Angola and Sierra Leone marks a significant advancement in its strategic goals. The completion of these acquisitions allows Access Bank to leverage synergies for improved financial performance and customer service. Furthermore, ongoing developments regarding similar acquisitions in other West African nations underline Access Bank’s commitment to fostering growth and reinforcing its reputation as a formidable player in African banking.
Original Source: thewillnews.com
