Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited have been fully acquired by Access Holdings PLC’s main business, Access Bank PLC.
Roosevelt Ogbonna, MD/CEO of Access Bank PLC and CEO of the Banking Group, provided the following statement available to BrandSpur banking and finance news, regarding the completion milestone: “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.”
Continuing, the parties are attempting to finalize the agreements that would allow Access Bank to purchase Standard Chartered Bank’s consumer, private, and business banking operations in Tanzania as well as its subsidiaries in Cameroon and the Gambia. With more than 700 branches and service locations across three continents, 23 countries, and more than 60 million clients, Access Holdings PLC (the “Company”) runs its business.
Access Bank PLC, Hydrogen Payment Services Company Limited, Access Pensions Limited, and Access Insurance Brokers Limited are the four operational entities that the company uses to service its diverse markets in the banking, payment, pension administration, and insurance sectors.
