General
Access Bank moves to acquire Zambian Bank
According to the reports, Access Bank Plc has notified shareholders of moves by its Zambian subsidiary to acquire Cavmont Bank Limited, a subsidiary of Capmont Capital.
In a notice published on the Nigeria Stock Exchange website, Access Bank said there is no certainty that a transaction would be agreed on yet.
“There can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement. The completion of a transaction would be subject to formal regulatory approvals,” the notice signed by Sunday Ekwochi, Access Bank company secretary, read.
“Access Bank will update the market as appropriate and in accordance with its’ disclosure obligations.
“Accordingly, shareholders are advised to exercise caution when dealing in Access Bank’s securities until a full announcement is made.”
Recall that on April 1, 2019, Access Bank acquired Diamond Bank Plc; a move that made it the largest bank by customer base in Nigeria.
Access Bank, on April 1, 2019, had acquired Diamond Bank Plc.
On January 17, 2020, the bank also announced that it had received approval from the Central Bank of Nigeria and other relevant authorities to acquire majority equity share in Transnational Bank Plc, a Kenyan-based bank.
Access Bank currently has six subsidiaries across Africa, namely DR Congo; Gambia; Ghana; Rwanda; Sierra Leone; and Zambia, including the UK.
-
News21 hours ago
Active WWII bomb discovered near German stadium
-
health10 hours ago
UK pledges £1b to support Nigeria’s fight against malaria
-
Economy10 hours ago
Good tax system will attract foreign investment – CITN
-
Metro10 hours ago
Police foil kidnapping attempt, rescue three victims in Bauchi
-
News10 hours ago
Tinubu mourns Enugu senator Ayogu Eze
-
News8 hours ago
Mark Zuckerberg loses $18b as Meta stock drops
-
News11 hours ago
Anambra lawmaker raises alarm over cult-related deaths in Awka
-
News7 hours ago
Beware of fake students’ loan website, NELFUND warns Nigerians