Banking Briefs
The Access Bank Plc and Diamond Bank Plc are waiting for the Federal High Court papers to finalise the merger proposals
ACCESS Bank Plc and Diamond Bank Plc are expected to start operating as a single entity from April 1. This would be under a new enlarged Access Bank brand.
In a joint statement to customers, Herbert Wigwe, managing director, Access Bank, and Uzoma Dozie, his Diamond Bank counterpart, said finalising the merger proposals would be after the deal has been sanctioned by the Federal High Court expected in the coming days. They said this would be followed by final approvals from Securities and Exchange Commission, SEC, and Central Bank of Nigeria, CBN.
“We are delighted that shareholders of both companies supported the merger. It is a testament to what we have said before: together we are stronger and can offer more opportunities for our employees, more products and services for you, our customers and more benefits for all our stakeholders. This approval puts us a step closer to becoming bigger, better and stronger Access Bank, one of Africa’s largest banks by number of customers,” the statement explained.
They disclosed that a team of brand experts have been working to create a fusion of both banks, adding that the new brand would reflect both banks’ shared purpose to help people achieve their dreams and in doing so, for Africa to take its place on the world stage.
– Mar. 8, 2019 @ 16:46 GMT |
Tags: Access Diamond to become Single Brand from April 1
