Pool Fixtures |Pool Results| Npower News

Breaking news in Nigeria today 24/7, Latest Nigeria News Headlines, Latest news in Nigeria today 2023, Nigeria Newspapers

Advertisement 18

Like Diamond Bank, Access Bank acquires another bank, gets Central Bank’s approval


Zambia’s Central Bank Authorises Access Bank to Take Over Atlas Mara Bank of Zambia 


Access Holdings Plc announced that Access Bank Zambia Limited, a subsidiary of Access Bank Plc, has obtained approval from the Central Bank of Zambia to acquire and merge African Banking Corporation (Atlas Mara Zambia).


According to a statement released by the bank’s Secretary, Sunday Ekwochi, on March 24, 2023, the development followed its announcement on October 25, 2021.


Advertisement 3ina

Read Also: CBN releases cash, instructs banks to open Saturdays, Sundays


The Central Bank of Nigeria (CBN) and Common Market for Eastern and Southern Africa Competition Commission previously granted the bank no objections for the transaction in 2021.

According to a statement released by Access Zambia, the bank will now begin operations, which is anticipated to create one of the top five banks in Zambia.


Advertisement 6

Herbert Wigwe, the group chief executive officer of Acess Holdings, stated that the transaction builds on the bank’s previous acquisition and merger of Cavmont Bank Plc into Access Bank Zambia and demonstrates its determination to expand its presence in Zambia.


Also Read: Appeal Court Makes Crucial Decision in PDP’s Case Against Tinubu, Shettima


Wigwe said:


Advertisement 9

“Combining the two banks will create significant synergies between Access Zambia’s world-class wholesale and transaction banking capabilities and Atlas Mara Zambia’s market-leading retail and public sector capabilities to form a market-leading universal banking platform that will greatly impact the Zambia market.”

The statement indicated the transaction would close in the third quarter of 2023.


Thanks for using our platform to learn about the on Zambia’s Central Bank Authorises Access Bank to Take Over Atlas Mara Bank of Zambia

Advertisement 12

Advertisement 12

Advertisement 6

Advertisement 18

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More