Access Bank has completed the acquisition of majority shareholding in Angolan bank, Finibanco Angola S.A.
The bank’s holding company, Access Holdings Plc made this
known to the Nigerian Exchange, in a statement Thursday, signed by company
secretary, Sunday Ekwochi.
The announcement came more than a month after the bank first
disclosed its acquisition plan on 2 May.
Group CEO of Access Holdings, Herbert Wigwe said Access
Bank, in anticipation of the acquisition, has made progress in integration
planning.
“Our plan is to leverage our expansive distribution network,
best-in-class technology, risk and governance practices to serve high growth
businesses and the rising consumer sector in Angola”, he said.
“We will act as a positive catalyst to foster greater
innovation and promote the deepening of the financial sector in Angola in line
with our strategic growth objectives in the broader South Africa Development
Community, while delivering value to our stakeholders”.
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