Admin l Wednesday, January 06, 2021
LAGOS, Nigeria – The board of Access Bank Plc has announced that its subsidiary, Access Bank ( Zambia) Limited has completed the acquisition of Cavmont Bank Limited(Cavmont) following fulfillment of key conditions precedent, including regulatory approval.
In a statement to the Nigerian Stock Exchange, signed by Company Secretary, Mr. Sunday Ekwochi, the bank said the merger into Access Bank Zambia is expected to take place before the end of January 2021, after which Access Bank Zambia will emerge as a stronger and well capitalized banking franchise with capacity to deliver sustainable and best in class financial services in the Zambian market.
According to the bank, “growing our presence in Zambia remains a strategic priority for Access Bank and with the conclusion of the proposed merger with Cavmont, the bank looks forward to realizing the synergies from the transaction and achieving further growth of the combined platform to the benefit of all stakeholders”, the bank said.