Access Bank Successfully Acquires Standard Chartered Operations in Angola and Sierra Leone

Access Bank Plc has successfully acquired Standard Chartered Bank subsidiaries in Angola and Sierra Leone. This strategic move aims to enhance the bank’s operations in corporate and SME sectors in these regions. Further acquisitions are also planned, solidifying Access Bank’s vision for growth in Africa.

Access Bank Plc has finalized its acquisition of two important subsidiaries of Standard Chartered Bank: Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone) Limited. This announcement was made by the Managing Director and Chief Executive Officer of Access Bank, Mr. Roosevelt Ogbonna, in a notification to the Nigerian Exchange Ltd. The successful completion of these acquisitions marks a significant milestone in the bank’s strategic growth plan, aiming to enhance its position in the corporate and SME banking sectors within these markets.

The acquisition of Standard Chartered’s operations in Angola and Sierra Leone represents Access Bank’s initiative to expand its footprint in Africa. By integrating these subsidiaries, Access Bank aims to bolster its earnings and improve its offerings in both the corporate and SME banking arenas. The bank is also in the process of acquiring additional assets from Standard Chartered, including subsidiaries in Cameroon and the Gambia, alongside their consumer and private banking operations in Tanzania. This strategy underscores Access Bank’s ambition to be recognized as the World’s Most Respected African Bank.

In conclusion, Access Bank’s acquisition of Standard Chartered Bank’s subsidiaries in Angola and Sierra Leone signifies a progressive step in its growth strategy. The bank’s leadership remains committed to providing stakeholders with updates as it progresses with further acquisitions in the region. With over 700 branches across 23 countries, Access Bank is poised to strengthen its market position and enhance customer services.

Original Source: thewillnews.com